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Spirit Airlines could liquidate as early as this week, sources say

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Spirit Airlines could liquidate as early as this week, sources say

Spirit Airlines airplanes taxi on the tarmac at New York’s Laguardia Airport in the Queens borough of New York City, U.S., Nov. 7, 2025.

Ryan Murphy | Reuters

Spirit Airlines could liquidate as early as this week, according to people familiar with the matter.

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They spoke on the condition of anonymity to discuss matters that had not yet been made public.

The budget carrier has been struggling to regain its footing from its second bankruptcy in less than a year, but it now faces the added challenge of a spike in the price of fuel. Fuel is airlines’ biggest expense after labor.

“We don’t comment on market rumors and speculation,” Spirit said in a statement.

The exact day the carrier could begin liquidation wasn’t immediately clear. Bloomberg earlier reported on the potential liquidation.

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The news comes just as the U.S. airline industry, including Florida-based Spirit, is wrapping up its busy spring break season.

Pilot and flight attendant unions had made concessions in recent months in a bid to help Spirit survive. The airline had planned to shrink and focus on high-demand travel periods and routes in a bid to exit bankruptcy as early as this spring.

Spirit enjoyed largely steady profitability for years and enviable margins in the industry. But things took a turn after the pandemic, when wages and other costs soared, customer preferences changed, and an oversupply of domestic flights drove down airfare, which was especially punishing for U.S.-focused carriers that don’t enjoy a buffer from plush first-class cabins and large credit card and loyalty program deals.

Its problems snowballed after a Pratt & Whitney engine recall grounded dozens of its Airbus aircraft starting in 2023 and its planned acquisition by JetBlue Airways was blocked two years ago by a federal judge who ruled it was anticompetitive, leaving both carriers to fend for themselves against a backdrop where larger carriers dominate.

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Spirit forecast it would generate a net profit of $252 million last year, according to a court filing in December 2024, but it said in an August report that it lost nearly $257 million in a matter of months stretching from March 13, after it exited its first Chapter 11 bankruptcy, through the end of June. It filed for Chapter 11 bankruptcy protection again less than a month later.

The airline had tried in recent years to win over higher-spending customers by offering roomier seats or bundled fares that include seat assignments and baggage to better compete with larger rivals whose profits have been buoyed big-spending customers post-pandemic.

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Why You Must Vote Tomorrow

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Why You Must Vote Tomorrow

I am not, in the ordinary run of things, a man given to civic exhortation. Lecture another adult on what to do with their Thursday and you tend to end up wearing their coffee, quite rightly.

But indulge me, just this once, because tomorrow is local election day across great swathes of England, and somebody has to say something about the great British shrug that has come to define our relationship with the ballot box at the parish-and-pothole level.

In the last round of council elections, turnout in some wards crept south of thirty per cent. Thirty per cent. Sit with that for a moment. Seven in ten adults, in possession of a franchise their grandparents fought a war to defend, opted instead to put the kettle on, watch a man on YouTube fitting a gearbox, or sit there in a state of low-grade irritation about Westminster as though the council had nothing whatever to do with their lives.

As though the council did not run their bins, set their parking charges, decide whether the vape shop next door could open at seven in the morning, and quietly determine, through the dark art of the local plan, whether a four-storey block of flats will rise next year on the patch of brownfield where their children currently kick a football.

I run businesses for a living, and I can tell you, as readers of this magazine will already know in their bones, that the people who shape your operating costs are not, in the main, the slick young SpAds and ambitious junior ministers preening on the Today programme.

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They are councillors. People with names like Peter, Paul and Jane, even I used to be one for over a decade. People with dreadful lanyards and, mostly, excellent intentions. They set business rates relief schemes. They grant, or refuse, your A-board, your awning, your application for a pavement licence so the punters can drink rosé in the rain.

They decide whether your high street will boast a half-decent bus service or a bewildered taxi rank flanked by three Costas and a Greggs. They sign off road closures that can cost a small retailer a fortnight’s takings in a single botched resurfacing job. They run procurement budgets through which billions are quietly dispensed every year, and from which, incidentally, your own firm could perfectly well be eating, were you ever to bother with the tendering portal.

In short, if you run a business, the council is your landlord, your regulator, your customer and your traffic warden, all rolled into one slightly damp Edwardian building with a malfunctioning lift. Ignore it at your peril.

Now. I am not going to tell you who to vote for. I have my views, strong ones, in fact, ones I will not bore you with here because, frankly, they are not the point, and you have yours. That is the splendid, frustrating, occasionally infuriating glory of the thing. You may be a lifelong Conservative who has finally had enough. You may be Labour through and through, a Lib Dem with a clipboard, a Green who cycles, a Reform man who shouts, or one of those magnificent independents who slipped in last time on a single-issue ticket about the duck pond.

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I do not care. I genuinely, profoundly, do not care. What I care about is that you put on a coat tomorrow, walk to the church hall, the primary school or the slightly dispiriting community centre, take the stubby pencil they have thoughtfully provided, and put a cross in a box.

Because here is the awkward truth: democracy is a muscle. Use it badly, use it crossly, use it with a heavy sigh and a glass of red waiting at home, but use it. Leave it in the drawer for too long and it withers, and once it has withered the people who do turn up, and they always turn up, get to decide everything for the rest of us. That is not a left-wing observation or a right-wing one. It is simply how arithmetic works in a polling station.

I am told there is a fashionable line these days, much retweeted by sixth-formers and weary executives alike, that “voting changes nothing”. To which the only sensible reply is: marvellous, then you will not object to my vote counting double. Of course it changes things. Ask any small business owner who has watched a sympathetic council slash parking charges, or an unsympathetic one slap on a workplace levy. Ask the publican facing a three a.m. licence refusal. Ask the parent whose new primary school exists because three hundred neighbours bothered to turn out one wet Thursday in May.

So. Tomorrow. Coat on, pencil up, cross in. I am not telling you who to vote for. I am telling you to vote. There is, I promise, a meaningful difference.

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Richard Alvin

Richard Alvin

Richard Alvin is a serial entrepreneur, a former advisor to the UK Government about small business and an Honorary Teaching Fellow on Business at Lancaster University.

A winner of the London Chamber of Commerce Business Person of the year and Freeman of the City of London for his services to business and charity. Richard is also Group MD of Capital Business Media and SME business research company Trends Research, regarded as one of the UK’s leading experts in the SME sector and an active angel investor and advisor to new start companies.

Richard is also the host of Save Our Business the U.S. based business advice television show.

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Disney CEO Josh D’Amaro outlines AI and content strategy in growth plan

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Josh D'Amaro named Disney CEO as Bob Iger retires from the company

New Disney CEO Josh D’Amaro outlined a new growth strategy for the entertainment giant as the company announced its quarterly results, which includes a focus on investing in content as well as technology.

D’Amaro, who succeeded former Disney CEO Bob Iger in mid-March, said in a letter to shareholders that Disney’s long-term strategy will revolve around three pillars including investing in intellectual property and creativity, reaching and engaging more consumers around the world, and using advanced technologies like artificial intelligence (AI) to power storytelling and increase monetization.

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Disney has been undergoing a costly investment in streaming, as well as content, technology and marketing for the platforms and programs that are on them. D’Amaro said that AI and other technology will be used to boost efficiencies across the company.

“We view advanced technologies, including AI, as a meaningful long-term opportunity. We see opportunities for AI to play a role across five areas of our business: content creation and production, monetization, workforce productivity, guest and consumer experiences and enterprise operations,” D’Amaro wrote.

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Disney CEO Josh D'Amaro

Disney CEO Josh D’Amaro outlined the growth strategy for the entertainment giant in a letter to shareholders. (Aurore Marechal/Getty Images)

“At the same time, we are committed to implementing AI in a way that keeps human creativity at the center of everything we do and respects creators and the value of our intellectual property,” he explained, noting that the company won’t proceed with a planned investment in OpenAI after it shut down its Sora platform. D’Amaro added that Disney continues to explore opportunities to work with OpenAI and other firms.

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D’Amaro noted that revenue growth in its subscription video on demand category, which includes streaming platforms, reached double-digits for the first time in the latest quarter. He said the gains were driven by last year’s rate adjustments and volume growth through international wholesale agreements, and Disney is now targeting at least 10% growth for the full year.

DISNEY REPORTEDLY SHELVES ESPN SPINOFF TALKS IN MAJOR CALL UNDER NEW CEO

Ticker Security Last Change Change %
DIS THE WALT DISNEY CO. 107.06 +6.55 +6.52%

“There is no single initiative that will fully optimize our streaming business on its own. Rather, we believe the compounding benefits of many incremental improvements over time will increase engagement and improve retention,” D’Amaro wrote.

Disney launched Verts on Disney+ in March to boost discoverability and drive more interaction among platform users, which D’Amaro said is an ongoing effort that may lead to variability in results between quarters but has the company “encouraged by the momentum we see.”

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DISNEY LAYS OFF 1,000 EMPLOYEES ACROSS TV AND FILM UNDER NEW CEO

Disney headquarters

Disney is continuing to invest in streaming platforms. (AaronP/Bauer-Griffin/GC Images)

He added that ESPN is early in the process of monetizing its direct-to-consumer offerings, and that the sports network is viewed as a “meaningful opportunity over time as we expand both the content offering and the consumer proposition for the ESPN Unlimited plan.”

The shareholder letter cited “Zootopia 2” as an example of intellectual property that generates value across distribution platforms. 

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D’Amaro said the movie generated $1.9 billion in global box office, while the franchise passed 1 billion hours streamed on the Disney+ streaming service and is driving engagement at theme parks, cruise ships and retail.

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Form 144 Cipher Digital Inc. For: 6 May

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Form 144 Cipher Digital Inc. For: 6 May

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PayPal weighs up to 20% job cuts as profit falls, outlook weakens

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PayPal weighs up to 20% job cuts as profit falls, outlook weakens

PayPal is reportedly weighing cuts of up to 20% of its workforce as the payments giant ramps up cost-cutting efforts under new leadership.

The potential layoffs come as PayPal faces mounting pressure on profitability despite continued revenue growth.

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FOX Business reached out to PayPal for comment.

Bloomberg and The Wall Street Journal reported that the company could cut as much as one-fifth of its staff as part of a broader restructuring push.

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paypal tokyo game show

PayPal branding seen at their exhibition area at the Tokyo Game Show 2025. (Stanislav Kogiku/SOPA Images/LightRocket via Getty Images)

PayPal reported first-quarter revenue of $8.35 billion, up 7% from a year earlier, while total payment volume rose 11% to $464 billion. 

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Net income fell to $1.11 billion from $1.29 billion a year earlier, though adjusted earnings of $1.34 per share beat expectations. 

The company expects adjusted earnings to decline about 9% in the current quarter and maintained a cautious full-year outlook. 

paypal signage

A sign is posted in front of PayPal headquarters on Feb. 2, 2023, in San Jose, California.  (Justin Sullivan/Getty Images)

PRIVATE SECTOR ADDED 109,000 JOBS IN APRIL, ABOVE EXPECTATIONS, ADP SAYS

New CEO Enrique Lores, who took over in March, is pushing to streamline operations and cut costs, including through greater use of artificial intelligence, Reuters reported.

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PayPal said those efforts are expected to generate roughly $1.5 billion in savings over the next two to three years, which it plans to reinvest into growth.

PayPal headquarters in San Jose, California

A PayPal sign is seen at its headquarters on Jan. 30, 2024, in San Jose, California. (Justin Sullivan/Getty Images)

HOW AI EXPOSURE IS RESHAPING JOBS IN CREATIVE FIELDS

The company has been grappling with intensifying competition from Big Tech and newer players such as Klarna and Stripe, while growth has cooled following a pandemic-era surge in digital payments, according to Reuters.

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PayPal said it is working to “simplify” its organization and improve efficiency, with disclosures pointing to workforce reductions as part of broader restructuring efforts. 

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Up to 150 former WHSmith high street stores to close

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Up to 150 former WHSmith high street stores to close

The stores were purchased by Modella Capital last year, and then rebranded under the name TGJones.

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These Stocks Are Today’s Movers: AMD, Intel, Corning, Uber, Super Micro, Disney, Arista, DaVita, and More

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The First $6 Trillion Company May Not Be Nvidia

These Stocks Are Today’s Movers: AMD, Intel, Corning, Uber, Super Micro, Disney, Arista, DaVita, and More

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Restaurant Brands International (QSR) Q1 2026 earnings

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Restaurant Brands International (QSR) Q1 2026 earnings

Burger King fast food hamburger restaurant in Miami, Fla.

Jeff Greenberg | Universal Images Group | Getty Images

Restaurant Brands International on Wednesday reported better-than-expected earnings and revenue, fueled by another quarter of strong international growth and a successful turnaround at Burger King U.S.

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But there are some potential challenges ahead for the company, like high beef costs that will likely stay that way longer than Restaurant Brands originally anticipated and weakening consumer sentiment as a result of the U.S.-Israel war with Iran.

Shares of the company fell roughly 5% in morning trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

  • Earnings per share: 86 cents adjusted vs. 82 cents expected
  • Revenue: $2.26 billion vs. $2.24 billion expected

Restaurant Brands reported first-quarter net income attributable to common shareholders of $338 million, or 97 cents per share, up from $159 million, or 49 cents per share, a year earlier.

Excluding nonrecurring expenses and other items, the restaurant company earned 86 cents per share.

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Revenue rose 7% to $2.26 billion.

Restaurant Brands’ same-store sales increased 3.2% in the quarter, driven by strong growth at Burger King’s U.S. locations and the company’s international restaurants.

Outside of the U.S. and Canada, Restaurant Brands’ international business saw same-store sales jump 5.7%, beating the estimates of 5.1% growth projected by Wall Street analysts surveyed by StreetAccount. International Burger King restaurants, which represents the bulk of the segment, saw same-store sales increase 5.4%.

Burger King reported same-store sales growth of 5.8%, topping StreetAccount estimates of a 3.5% increase. The chain’s U.S. business has been renovating its restaurants, upgrading its Whopper ingredients and offering consistent value items.

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“There are notable successes in the industry right now, and that includes Burger King, and they’re putting up great numbers,” Restaurant Brands Chair Patrick Doyle said on the call. “And there are others in the industry where things are clearly getting worse and they are losing market share.”

Tim Hortons’ same-store sales ticked up 1.6%, below StreetAccount estimates of 2.5% growth. Restaurant Brands CEO Josh Kobza said snowstorms in January and consumers’ broader economic concerns weighed on sales for the Canadian coffee chain, although it still outperformed the broader coffee category in Canada.

Popeyes was the laggard of the portfolio again for the quarter. The fried chicken chain reported same-store sales declines of 6.5%, a steeper decrease than the 1.5% slide forecast by Wall Street and its biggest quarterly drop in years.

Faced with stiffer competition and more value-conscious consumers, Popeyes is trying to revive sales by focusing on its operations and core menu items. The chain’s same-store sales should start growing again by the second half of the year, Kobza told analysts on the conference call.

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Slideshow: Formulating fresh condiment innovations

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Slideshow: Formulating fresh condiment innovations

Introductions center on novel flavors, protein content and simplified formulations.

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CoreWeave Q1 Earnings Preview: Punished Or Praised? (Rating Downgrade)

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CoreWeave Q1 Earnings Preview: Punished Or Praised? (Rating Downgrade)

CoreWeave Q1 Earnings Preview: Punished Or Praised? (Rating Downgrade)

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Plans for dozens of greenbelt homes at Alderley Edge

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Developer argues site meets ‘grey belt’ criteria and cause only minor harm

Bellway Homes wants to build up to 70 homes on land west of Wilmslow Road at Alderley Edge (from planning documents)

Bellway Homes wants to build up to 70 homes on land west of Wilmslow Road at Alderley Edge(Image: Local Democracy Reporting Service)

Plans have been submitted for up to 70 homes on green belt land at Alderley Edge.

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Bellway Homes wants to build the dwellings on 3.18 hectares of pastoral agricultural land west of Wilmslow Road.

Access to the development would be via a priority T-junction from Wilmslow Road.

A design and access statement, submitted with the outline application, states: “The scheme demonstrates the future ability to include detached, semi-detached and mews style two to five-bed dwellings, up to 2.5 storeys in height with associated car parking and landscaping.”

The proposals include 45 per cent affordable housing, about 0.92 hectares of landscaping, public open space and ecological areas and ‘significant’ area of public open space across the site, according to the planning statement.

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The planning statement, submitted by Savills on behalf of the applicant, says the proposed development is in a sustainable location within walking and cycling distance of key services and facilities, as well as active travel and public transport options.

It also argues the site meets grey belt criteria and so would not be inappropriate development in the green belt.

“The scheme would result in the delivery of up to 70 homes at a time when the council cannot demonstrate a requisite level of housing land supply for the five-year period,” says the planning statement.

“The proposals also deliver 45 per cent affordable homes.

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“Other moderate and minor benefits are associated with economic impacts, provision of new publicly accessible open space, and biodiversity net gain.”

The application site for up to 70 homes on land west of Wilmslow Road at Alderley Edge (from planning documents)

The application site for up to 70 homes on land west of Wilmslow Road at Alderley Edge(Image: Local Democracy Reporting Service)

It acknowledges ‘minor harm’ in terms of localised landscape and visual impact, and contravention to the out-of-date open countryside policy.

But it says ‘these limited harms do not outweigh the significant benefits’.

The planning document concludes: “The site represents a much-needed residential development in a sustainable location which has been designed to be in keeping with the character of surrounding area and land uses.”

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The application, number 26/1143/OUT, can be viewed on the planning portal on Cheshire East Council’s website.

The last date for submitting comments is May 27.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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