Spirit Airlines says it is finally noticing a path to profitability following a hard spell of debt, high fuel prices, and intense competition. The carrier reports that it expects to post its first profit in 2027 as part of an outright restructuring process underway.

Regulators estimate the losses will continue in the short term, about $800 million in 2025 and about $145 million in 2026, before ultimately breaking even with a projected $219 million profit in 2027. The carrier characterizes the turnaround as dependent on tighter cost discipline and a more efficient route network.

To achieve the goal, Spirit is scaling back operations and selling some of its assets. The carrier will place approximately 330 pilots and nearly 1,800 flight attendants on furlough at the end of the year. The carrier insists that it's a tough decision, but one that has to be made to keep the company on an even keel.

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Spirit also expects to save roughly $400 million a year by cutting loss-making routes, negotiating new aircraft lease deals, and selling its Florida headquarters and optimal takeoff positions at LaGuardia Airport. A $475 million financing deal will keep flying while the transformation takes place.

The new focus is on flying fewer but more loaded flights. Spirit wants to increase reliability, reduce cancellations, and rebuild customer confidence. Executives view the leaner and more concentrated operation as making the company healthier.

By 2027, Spirit expects to be back in the black with an annual operating income of around $900 million. That would mark a big recovery for a company hit hard by the pandemic and rising costs.

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Passengers may see fewer flights for now, but the airline says it’s part of a long-term plan to get back on solid ground. If Spirit pulls it off, the comeback could prove that even low-cost carriers can weather tough times as long as they stay lean and focused.