Spirit Airlines has experienced a substantial jump in its stock price, soaring by over 15% following the announcement of plans to sell planes and reduce its workforce. In an effort to mitigate financial struggles, the budget carrier is selling over 20 Airbus A320-Series jets, valued at approximately $500 million, while also implementing cost-cutting measures, including layoffs. Despite looming bankruptcy concerns, Spirit Airlines remains focused on boosting liquidity and has extended its deadline for refinancing debt, temporarily easing fears of insolvency. Analysts note that the recent decisions may help the airline stabilize operations as it navigates challenging market conditions.