Spirit airlines file for bankruptcy

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Spirit Airlines is on the brink, reportedly advancing toward a Chapter 11 bankruptcy filing. While still in talks, the airline has not yet formally declared bankruptcy, though mounting losses, debt challenges, and failed merger discussions have taken a toll.

Initially hoping for a merger with Frontier Airlines, Spirit’s financial lifeline fell through, amplifying its challenges. Now, in a bid to stay afloat, Spirit has been cutting jobs, selling aircraft, and extending debt deadlines. But despite these measures, the airline’s stock reflects the crisis—down over 60% in recent sessions and nearly 80% for the year.

These financial woes are likely to impact customer loyalty as travelers steer clear, worried about potential cancellations or disruptions. Spirit’s future remains in doubt as it scrambles for stability, with its Chapter 11 filing potentially looming ahead.



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