Spirit Airlines said on Monday that it will furlough about 270 pilots while demoting another 140, as the cash-strapped budget carrier looks to scale down its workforce to match a downsized schedule.

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

South Florida-based Spirit Airlines intends to reduce its pilot head count through furloughs and demotions as the discount carrier continues to focus on cost reductions after emerging from Chapter