DALLAS — Spirit Airlines (NK) said on Wednesday that it will cut its November flying capacity by 25% compared to November 2024. The news follows NK's second Chapter 11 bankruptcy filing in less than a year.

In a September 17 message to staff that CNBC was able to obtain, CEO Dave Davis admitted that layoffs are on the horizon, saying that "these evaluations will inevitably affect the size of our teams as we become a more efficient airline," although he did not say how many jobs will be affected.

"Unfortunately, in order to come out stronger, we have to make these difficult decisions," Davis added. "We are dedicated to keeping you informed while these decisions are made, even though we recognize that this adds uncertainty."

About 140 Spirit pilots will be demoted from captain to first officer starting on November 1, 2025, while approximately 270 pilots will be placed on furlough starting on October 1.

The move is yet another effort by the ultra-low-cost airline facing increasing financial difficulties to concentrate on its most lucrative routes.