Reported 2 months ago
Spirit Airlines, a pioneer in no-frills travel in the U.S., has filed for bankruptcy protection after struggling with ongoing quarterly losses, failed merger attempts, and increasing debt. Despite strong travel demand, the airline has faced substantial operating costs, further exacerbated by the collapse of a planned merger with JetBlue and issues with its aircraft engines. As part of its Chapter 11 process, Spirit has secured financial backing from bondholders and plans to continue operations while aiming for a return to profitability.
Source: YAHOO