Spirit Airlines is sounding alarms about its future operations less than six months after the Florida-based budget air carrier emerged from bankruptcy protection.

"Management has concluded there is substantial doubt as to our ability to continue as a going concern within 12 months," the airline's parent company, Spirit Aviation Holdings, wrote in its quarterly financial report on Monday.

The report, which reflects data through the end of June, cited ongoing concerns about cash flow, market conditions and aircraft fuel prices and availability, among others.

Spirit stock took a dramatic tumble Tuesday after the news.

The ultra-low-cost airline has struggled to regain its footing since the COVID-19 pandemic, prompting the company to seek bankruptcy protection in November, which ended in M

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