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Spirit Airlines is hanging on by a thread but it is hanging on. The budget airline announced a plan Tuesday that would put it on track to exit its second bankruptcy in less than two years and stay in operation. The arrangement will keep the company alive while shrinking its expenses and operations down to an even smaller size than what it aimed for during its first bankruptcy, which it filed for in November 2024. With financial support from its creditors, Spirit says it plans to emerge from bankruptcy in late spring or early summer. The company plans to keep its core identity as a value carrier that can still offer fliers the lowest fares in the sky while bolstering its loyalty program a tough task in the fiercely competitive field of rewards programs. Spirit reassured customers that its flights and loyalty program will remain operational through the process. “This agreement in principle is the result of months of hard work and allows Spirit to move toward completing its transformation,” Spirit CEO Dave Davis said in a press release. “Spirit will emerge as a strong, leaner competitor that is positioned to profitably deliver the value American consumers expect at a price they want to pay.” For Spirit, reducing costs is the name of the game. The airline plans to shrink its debt and lease obligations down from $7.4 billion to $2.1 billion as it navigates its second bankruptcy in less than two years. Coming out of the pandemic, Spirit struggled more than most airlines to stay aloft. The company has been buffeted by rising labor costs and supply chain snarls like its peers, but also found its business threatened by changing preferences among fliers who once opted for cheap seats in the sky and now prefer more perks. Spirit shrink and shrinks again In August, Spirit filed for Chapter 11 bankruptcy protection for a second time. Spirit first filed for bankruptcy in November 2024 in the face of a mountain of debt, and aborted merger negotiations. Following its second bankruptcy, the airline reduced service to a dozen U.S. cities and furloughed a third of its flight attendants in order to stay in the air. We need to shift our focus to a complete rightsizing of the airline, which means volume-based adjustments to our flight attendant group, the airline said in an internal email reported by Reuters. At the time, the drastic measures werent a surprise. Spirit previously warned in its August quarterly earnings report that the company was desperate for cash, with its business balanced on a razors edge. The dire message came six months after the airline emerged from its first bankruptcy with a plan to trim its business and seek profitability. Spirit said then that it would pursue liquidity enhancing measures that could include selling some aircraft and offloading extra airport gate capacity. While it is the Companys goal to execute on these initiatives, there can be no assurance that such initiatives will be successful, the company wrote at the time. In 2024, Spirit sold two dozen planes out of its all-Airbus fleet to generate some emergency cash. Then-Spirit CEO Ted Christie told staffers in an internal memo in early 2025 that the airline faced significant challenges with its business that necessitated further downsizing. The bottom line is, we need to run a smaller airline and get back on better financial footing, Christie wrote. Spirit turned to a merger with fellow budget carrier JetBlue to give its business a lifeline, but that deal ran into a regulatory wall and Spirits path has been rocky ever since.The Justice Department sued to block the $3.8 billion deal citing antitrust concerns and a federal judge sided with the government, killing the merger. In light of the airlines ongoing business woes, Spirit (FLYY) was delisted from the New York Stock Exchange late last year.
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E-Commerce
Unlocking the power of genetics to provide meaningful answers to patients when they matter most is at the crux of precision diagnostics. As technologies advance, costs fall, and evidence builds, genomic sequencing has great potential to transform the trajectory of patient care. It will do so by shortening the diagnostic odyssey. It will guide and speed up more personalized and effective treatment decisions. And it will improve patient outcomes more than ever before. For innovation to truly scale, it will require deep collaboration and seamless integration across the healthcare ecosystem. BUILD A STRONGER PARTNERSHIP ECOSYSTEM Making genomic sequencing a standard practice in patient care at scale is not something any organization can accomplish alone. It requires coordinated efforts from providers who identify the clinical need and offer it to patients, as well as health systems integrating testing into care pathways. It also depends on clinical societies broadening their guidelines to include these recommendations, payers expanding access through coverage decisions, and industry partners bringing innovative technologies to the table. These collaborations create the synergies necessary to advance genomics from a specialty tool to a standard-of-care approach. Working together, we can help ensure that patients across diverse populations benefit from advances in precision diagnostics. This partnership-driven approach also accelerates the translation of genomic findings into clinical action. When clinicians, lab partners, and digital health platforms work together, the pathway from sample collection to diagnosis becomes more streamlined. Patients ultimately see faster, more actionable results. In a rapidly evolving field like genomics, this type of collaboration is key. APPROACH CARE THROUGH A COMPREHENSIVE MULTIOMIC LENS Genetic testing has traditionally involved assessing just the DNA for changes that might cause disease. More recently, a multiomic approach to care that involves looking at data from other omics has been pursued. These include transcriptomics, metabolomics, and methylomics. By layering these and other datasets, multiomics can provide a dynamic, functional view that can reveal disease mechanisms beyond a DNA test alone. Incorporating multiomic data can make all the difference in complex rare diseases and inherited conditions where a diagnosis is otherwise elusive. The powerful impact of a multiomic approach is best illustrated using a real-world case. Reed was just 18 months old when his parents, Kelly and Chris, began noticing differences in his development, including delays in speech and motor skills, as well as involuntary movements. What followed were years spent navigating waiting rooms, specialist appointments, and numerous tests that offered few clear answers, making it difficult to make informed decisions about his care. It was not until the family pursued whole genome sequencing (WGS), followed by RNA-seq, that they gained meaningful insight into a possible underlying contributor. WGS identified a variant in the FOXP4 gene, which is known to play a role in regulating other genes involved in brain development, speech, and motor coordination. To better understand the functional impact of this variant, RNA-seq was performed and demonstrated abnormal splicing associated with the FOXP4 variant, supporting its classification as likely pathogenic. While this finding did not explain all of Reeds medical and developmental challenges, it provided important biological context and helped clarify one significant factor contributing to his clinical picture. The combination of WGS and RNA-seq marked a turning point for the family, enabling more informed discussions with clinicians and supporting a more precise, individualized approach to Reeds ongoing care. INNOVATION STARTS BEHIND THE SCENES The true potential of precision diagnostics cant be unlocked without meticulously designed workflows that support each sample from order to result. These behind-the-scenes capabilities are what allow innovation to scale responsibly, and what ensures that patients and providers receive accurate, timely, and clinically actionable answers. Flexible sample collection options give providers the ability to serve patients where they are, whether in clinics, hospitals, mobile settings, or at home. This flexibility reduces barriers to testing and helps broaden access for patients who may face logistical challenges. Automated processing and high-throughput systems ensure that every sample moves through the lab with consistent quality and efficiency. This allows organizations to handle increasing test volumes without compromising accuracy or turnaround time. This is an essential capability as more health systems adopt genomic testing at scale. Finally, seamless electronic health record integration ensures that results flow directly into clinical workflows, making it easier for providers to interpret genomic data and act on it quickly. When clinicians have access to clear, well-structured reports within their existing systems, genomic testing becomes a natural part of patient care. Together, these operational strengths form the backbone of a world-class customer experience that will make precision diagnostics truly scalable. Kengo Takishima is chairman and CEO of Baylor Genetics.
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E-Commerce
Warner Bros. Discovery says it’s reviewing a new takeover offer from Paramount, but it continues to recommend a competing proposal from Netflix to its shareholders in the meantime. Warner disclosed Tuesday that it had received a revised offer from Paramount after a seven-day window to renew talks with the Skydance-owned company elapsed Monday. Paramount confirmed it had submitted this proposal, but neither provided further details on the bid. The company was widely expected to have raised its offer. A Warner Bros. Discovery buyout would reshape Hollywood and the wider media landscape bringing HBO Max, cult-favorite titles like Harry Potter and, depending on who wins the Netflix v. Paramount tug-of-war, potentially even CNN under a new roof. Paramount wants to acquire Warner Bros. in its entirety including networks like CNN and Discovery and went straight to shareholders with an all-cash, $77.9 billion hostile offer just days after the Netflix deal was announced in December. Accounting for debt, that bid offered Warner stakeholders $30 per share, amounting to an enterprise value of around $108 billion. Paramount maintained on Tuesday that its tender offer remains on the table while Warner evaluates its latest proposal. Netflix only wants to buy Warners studio and streaming business for $72 billion in cash, or about $83 billion including debt. Warners board has repeatedly backed this deal and on Tuesday maintained that its agreement with Netflix still stands. A press contact for Netflix did not immediately respond to a request for comment. Warner shareholders are set to vote on the Netflix proposal on March 20. If Warner’s board changes course and deems Paramount’s latest offer superior, Netflix would have a chance to match or revise its proposal, potentially setting the stage for a fresh bidding war. It could also choose to walk away. Paramount, Warner and Netflix have spent the last couple of months in a heated back and forth over who has a stronger deal. But many lawmakers and entertainment trade groups have sounded the alarm along the way, warning that either buyout of all or parts of Warners business would only further consolidate power in an industry already run by just a few major players. Critics say that could result in job losses, less diversity in filmmaking and potentially more headaches for consumers who are facing rising costs of streaming subscriptions as is. Combined, that raises tremendous antitrust concerns and a Warner sale could come down to who gets the regulatory greenlight. The U.S. Department of Justice has already initiated reviews, and other countries are expected to do so. Both Paramount and Netflix have argued that their proposals are good for consumers and the wider industry. And the companies have taken aim at each other publicly with regulatory arguments. Paramount has pointed to Netflix’s much larger market value. And it’s argued that if the streaming giant acquires Warner, it would only give it more dominance in the subscription video on demand space. But Netflix is trying to convince regulators that its up against broader video libraries, particularly Google’s YouTube. Netflix has also said that since it doesnt currently have the same studios and film distribution that Warner does, it would preserve and grow those operations whereas a Warner-Paramount merger would combine two of Hollywoods last five major studios, as well as theatrical channels and news networks. Politics could also come into play. President Donald Trump previously made unprecedented suggestions about his involvement in seeing a deal through, before walking back those statements and maintaining that regulatory approval will be up to the Justice Department. Trump has a close relationship with the billionaire Oracle founder Larry Ellison (the father of Paramount Skydance CEO David Ellison) who is heavily backing Paramount’s bid to buy Warner. And the push to acquire Warner arrive just months after Skydance closed its own buyout of Paramount in a contentious merger approved just weeks after the company agreed to pay the president $16 million to settle a lawsuit over editing at Paramount’s 60 Minutes program on CBS. Under new ownership, CBS has seen significant editorial shifts, notably with the installation of Free Press founder Bari Weiss as editor-in-chief of CBS News. Critics say similar changes could happen at Warner’s CNN if Paramount’s bid is successful. But Trump has continued to publicly lash out at Paramount over editorial decisions at CBS 60 Minutes. The president also previously met with Netflix co-CEO Ted Sarandos, who he called a fantastic man. Wyatte Grantham-Philips, AP business writer
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