Spirit Airlines said on Monday it will furlough about 270 pilots while demoting another 140, as the cash-strapped budget carrier looks to scale down

Spirit Airlines announced that 270 pilots will be furloughed and 140 more will be demoted. The airline said the move is necessary to return to profitability.

The poster child for no-frills service and deeply discounted fares is furloughing hundreds of pilots this fall as it struggles to find profitability.