Spirit Airlines filed for bankruptcy protection, citing heavy financial losses, unsustainable debt, increased competition for budget-conscious travellers, and failed merger efforts.
The airline assured passengers that operations will continue as normal during the restructuring, with tickets, credits, and loyalty points unaffected.
Spirit had sought mergers with Frontier Airlines and JetBlue Airways in recent years, but both attempts failed. A federal judge blocked the JetBlue deal on antitrust grounds.
Now, Spirit faces an uncertain future, which could include being purchased by another airline or potentially liquidating its assets.
The airline joins a list of major U.S. carriers that have filed for bankruptcy in the past but later recovered. Whether Spirit will follow that path or face a different fate remains to be seen.
Further updates are expected as the restructuring process unfolds.
Source:
CNN
