Spirit Airlines lays off 200 workers in cost-cutting move as firm looks to emerge from bankruptcy

1. Spirit Airlines plans to lay off about 200 employees to cut costs. 2. The airline aims to reduce $80 million in annual expenses. 3. CEO Ted Christie received criticism for a retention bonus before bankruptcy. 4. Spirit has lost over $2.2 billion since 2020 due to financial struggles. 5. The airline expects to emerge from Chapter 11 bankruptcy later this quarter.