Although Spirit Airlines emerged from bankruptcy earlier this year, it seems the company is still on shaky financial ground. According to CNBC, Spirit said in a quarterly financial report that despite its efforts to boost its bottom line by overhauling and shrinking its route network,

Spirit Airlines CEO Dave Davis addresses employees after an SEC filing showed substantial doubt in the budget carrier's future operations.

After cutting its debt during restructuring, Spirit has tried to attract bookings by marketing more upscale products and looking for new ways to cut costs.