Reported 2 days ago
Spirit Airlines' shares plummeted over 25% following reports that the airline is in discussions with bondholders about a possible bankruptcy filing. The company's stock has dropped more than 85% this year, largely due to the fallout from a failed merger with JetBlue Airways and significant long-term debts totaling approximately $3.06 billion. Analysts express skepticism about whether Spirit can lower costs without resorting to Chapter 11 protection, complicating its financial struggles amid increased competition and operational challenges.
Source: YAHOO