Spirit Aviation Holdings' Q1 FY23 revenue falls short, raises going concern doubts.

• Pomerantz LLP investigating Spirit Aviation Holdings for potential securities fraud. • Concerns raised over Spirit's ability to continue as a going concern within 12 months. • Adverse market conditions and minimum liquidity covenants cited as factors. • Spirit's stock price affected by the news.

NEW YORK, Sept. 2, 2025 — Pomerantz LLP, a renowned law firm specializing in corporate, securities, and antitrust class litigation, has announced it is investigating claims on behalf of investors of Spirit Aviation Holdings, Inc. (NYSE: FLYY). The investigation centers around allegations that Spirit and certain of its officers and/or directors may have engaged in securities fraud or other unlawful business practices [1].

Spirit Aviation Holdings, a company that operates under the Spirit Airlines brand, faced significant challenges in August 2025. On August 11, the company disclosed in a regulatory filing that it has substantial doubt about its ability to continue as a going concern within the next 12 months [1]. This revelation cited adverse market conditions and minimum liquidity covenants in the company's debt obligations and credit card processing agreement as primary factors [1].

The news of Spirit's financial distress sent shockwaves through the market. On August 12, the company's stock price plummeted by $1.44 per share, or 40.68%, closing at $2.10 per share [1]. This significant drop underscored the magnitude of investor concerns over the company's financial health.

Spirit Airlines has a history of financial instability. Earlier in August, the company submitted quarterly filings to the Securities and Exchange Commission (SEC) indicating substantial doubt about its ability to stay in business amid spiraling debt [3]. This revelation led to Spirit's stock being delisted from the market and the company preparing to go private [3].

The investigation by Pomerantz LLP is a critical development for investors. The firm, known for its expertise in securities class actions, is advising investors to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980, to learn more about their rights and potential involvement in the class action [1].

Investors are urged to stay informed about the ongoing investigation and its potential outcomes. The financial health of Spirit Aviation Holdings remains a topic of concern, and the investigation by Pomerantz LLP may provide further clarity on the company's future prospects.

References:
[1] https://www.marketscreener.com/news/pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-spirit-aviation-holdings-inc-fl-ce7c50dedf8ff724
[2] https://www.globenewswire.com/news-release/2025/08/29/3141536/1087/en/INVESTOR-ALERT-Pomerantz-Law-Firm-Investigates-Claims-On-Behalf-of-Investors-of-Spirit-Aviation-Holdings-Inc-FLYY.html
[3] https://www.thestreet.com/travel/spirit-airlines-executives-bonus-bankruptcy