NEW YORK, Nov 18 (Reuters) - The unions representing

Spirit Airlines pilots and flight attendants said on Tuesday

that they have reached an agreement with the company for pay and

benefits cuts as the carrier tries to rein in costs as part of

its ongoing Chapter 11 restructuring process.

The amended collective bargaining agreements, which are

subject to member and court approval, include snapbacks timed

for when the ultra-low-cost-carrier expects to be profitable

again. Spirit filed for bankruptcy for the second time in a year

in August; it said it expects to report losses until 2027.

The Air Line Pilots Association said it has agreed to

Spirit's plans to reduce hourly pay by 8% and slash its

retirement account contributions by half from 16% to 8%. The

amended collective bargaining agreement will last from the

beginning of 2026 through the end of 2027.

The airline agreed to incrementally restore the pilots' pay

starting in August 2028 with a 4% raise and then another 4% in

January 2029. Retirement contributions will return to 16% by

July 2029.

Spirit declined a request for comment.

The flight attendants union said in a memo seen by Reuters

that it is recommending its members vote in favor of the

agreement, which would go into effect at the beginning of 2026.

The union representing Spirit's flight attendants said the

contract changes protect base pay and healthcare benefits. The

Association of Flight Attendants-CWA agreed to reduce incentive

overtime pay from one-and-a-half times to one time and eliminate

ground holding pay. Overtime pay will improve in July 2027, with

the threshold for earning overtime rising to 95 credited hours

from 85.

Spirit has agreed to revert to the original term of the

flight attendants' labor agreement once it achieves a 7.5% or

higher adjusted pre-tax margin in three consecutive quarters.