Twice within a year, South Florida-based Spirit Airlines has gone through bankruptcy—and now it's looking for ways to save millions of dollars.

"I want to see them succeed. They're a Fort Lauderdale company," said Angela Lowery.

The Lowery family flies Spirit frequently and is hoping the airline can overcome its financial troubles.

"We fly Spirit because they're economical and gets us from point A to point B the cheapest," she said.

CEO hints at job cuts

Spirit CEO Dave Davis sent a letter to employees Wednesday outlining plans for a "reduction of about 25% in capacity" year over year.

He also said the airline will "evaluate the size of the fleet" and noted that all of this will "inevitably affect the size of our teams," hinting at potential job cuts.

"There probably will be job cuts. If you're flying 25% fewer flights year over year, you certainly don't need as many people to do that work," said Brett Snyder, president of the Cranky Flier.

Fort Lauderdale likely to remain a focus

Snyder said he believes Fort Lauderdale will fare better than most cities. Right now, Spirit operates 102 peak-day departures to 60 destinations. The airline said it plans to focus on stronger-performing cities.

"What we do know is that Fort Lauderdale absolutely has to be a part of that. That is the heart and soul of Spirit. But what else gets included in that remains to be seen," Snyder said.

Competition is watching

At the same time, other airlines such as JetBlue have been ramping up service. JetBlue recently announced that Fort Lauderdale would get nine new destinations and more flights to popular cities, giving the airline up to 113 daily departures.

"What we see is other airlines are just watching and waiting to see if Spirit can get out of bankruptcy protection, or if this might be the end for it," Snyder said.

Schedule details coming soon

The full details of Spirit's potential cuts and changes to its schedule are expected in the coming weeks when the new schedule is released.