Spirit Airlines unveiled a plan in U.S. Bankruptcy Court to slim down its operations, focusing on high-demand routes and peak travel periods while expanding premium-class seating to remain competitive.

The airline will concentrate flights from major hubs in Florida, New York, and Detroit, cut underperforming routes, and reduce operations in Latin America, while increasing aircraft utilization during busy times.

Spirit plans to shrink its Airbus fleet, reduce costs by $5.5 billion annually, and cut debt from $7.4 billion to $2.1 billion, with creditor support secured.

The airline will expand Spirit First and premium economy seating and update its loyalty program, while potential staff adjustments remain uncertain, CNBC has reported.

Facing competition from larger U.S. carriers offering basic economy fares, Spirit aims to emerge leaner and more profitable, keeping open options for future mergers or acquisitions.