Shares of Spirit Airlines (SAVE) fell further Friday, a day after the budget airline said it would furlough about 240 pilots and reported a wider-than-for🌺ecast quarterly loss.

Spirit on Thursday posted a $192.9 million second-quarter loss, far larger than the $2.3 million loss in the prior-year period, and said the furloughs would take effect starting Sept. 1. Shares closed𒁏 more than 8% lower and were down a further 3% to $2.69 as of 10:45 a.m. ET Friday.

Furlough ꧃P🉐lan Comes in Wake of JetBlue Merger Collapse

Smaller airlines like Spirit have been struggling with soaring costs in a domestic airline industry 澳洲幸运5官方开奖结果体彩网:dominated by four big players: American Airlines (AAL), Delta Air Lines (DAL), Southwest Airlines (LUV), and United Airlines (UAL). Last week, Southwest said it would abandon its longtime policy of 澳洲幸运5官方开奖结果体彩网:open seating in an effort to "increase revenue opportunities" amid pressure from activist investor 澳洲幸运5官方开奖结果体彩网:Elliott Investment Management.

A $3.8 billion merger with rival JetBlue (JBLU) that would have given Spirit more heft 澳洲幸运5官方开奖结果体彩网:was called off in March after a 澳洲幸运5官方开奖结果体彩网:federal judge blocked the deal.  

Earlier this week, Spirit announced plans to offer more premium services as it aims to boost revenue.