Spirit is in dire financial straits, and experts believe its collapse could trigger shifts across the low-cost airline sector.

Despite successfully emerging from bankruptcy earlier this year, Spirit Airlinesis once again facing a turbulent flight path. The budget carrier has issued astark warning to investors, expressing “substantial doubt” about its ability tocontinue as a viable business due to persistent financial struggles and adifficult market.

Earlier this week, Spirit Airlines issued a significant warning about its future, revealing that it is in imminent danger of shutting down if it doesn't raise more cash. The company's CEO pushed back on that concern a little bit in a statement earlier this week,

Less than a year after it filed for bankruptcy, Spirit Airlines warned investors it may not survive much longer. The no-frills budget airline filed for Chapter 11 bankruptcy last November, but has reported it’s still facing a turbulent financial future as it struggles to regain

Little more than five months out of Chapter 11 bankruptcy, Spirit Airlines has served a brutal reality check — warning investors that now there is 'substantial doubt' about its ability to stay in flight after next year.