Pilot Furloughs, Demotions Zap Spirit Airlines

Spirit Airlines' troubles continued as the budget carrier announced its third round of pilot furloughs and demotions since last September.

This is Spirit Airlines' third round of pilot furloughs and demotions. (Photo: Spirit Airlines)

The airline industry is being hit by lagging consumer confidence, but Spirit’s challenges are deeper—it hasn’t turned a profit in six years and filed for Chapter 11 bankruptcy last November, Forbes Daily reported.

In contrast, Shake Shack founder Danny Meyer is soaring. After starting with upscale restaurants in New York City, he’s now a burger billionaire, thanks to the success of his hamburger and frozen custard chain, Shake Shack.

Meyer, who founded the chain that now boasts 585 locations and $1.3 billion in revenue, joins the ranks of fast-food billionaires including Jersey Mike’s Peter Cancro, Panda Express’ Andrew and Peggy Cherng, and, more recently, Chipotle founder Steve Ells.

In another development, Waymo plans to launch its autonomous ride service in Dallas next year—its second market in Texas—through a partnership with Avis to maintain its growing fleet of electric vehicles.

The announcement follows a statement from Alphabet CEO Sundar Pichai that Waymo could soon triple the number of cities it operates in.

The company’s steady expansion contrasts sharply with Tesla, which remains in test mode despite CEO Elon Musk’s claims that his company leads in self-driving technology.