Spirit is exploring strategic alternatives after its recent restructuring failed to put the budget carrier on a sustainable path.

The airline emerged from bankruptcy back in March, eliminating $795 million in debt; however, the process failed to resolve several core challenges.

A Spirit Airlines plane appears to have flown through Hurricane Erin this week when the hurricane was a Category 4 storm with winds well over 100 mph, according to a flight path shared on social media. Spirit Airlines told Newsweek in a statement that the flight operated normally and no injuries were reported.

Spirit Airlines has found itself in hot water across social media after one of its planes appeared to fly directly into Hurricane Erin on Monday, when the storm was a powerful Category 4. According to flight tracking site Flightradar24,

Time could be running out for Spirit Airlines to continue operating, which would be bad news not only for its employees and customers but for all people seeking low-priced flights. For decades, the discount carrier has helped push prices down for domestic flights.

Fewer people are booking leisure trips and tough competition from other carriers are making it hard to hit the money targets, the airline said.

"We remain hard at work on many initiatives to protect our unique franchise," CEO Dave Davis said in an email to employees.

Just five months after emerging from Chapter 11 bankruptcy protection, Spirit Airlines is warning about its future ability to stay in business.