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bankruptcy

Spirit Airlines files for bankruptcy, seeks restructuring to stay competitive

Spirit Airlines files for bankruptcy, seeks restructuring to stay competitive

Spirit Airlines, which pioneered ultralow-cost air travel, has filed for Chapter 11 bankruptcy, reports the Wall Street Journal, becoming the first major US passenger airline to do so since American Airlines in 2011. The expected bankruptcy is the result of mounting debt, rising labor costs, and intense competition from legacy

Spirit Airlines nears bankruptcy as Frontier ends merger talks, reports Journal

Spirit Airlines nears bankruptcy as Frontier ends merger talks, reports Journal

Spirit Airlines is preparing for a bankruptcy filing following failed merger talks with Frontier Airlines, according to sources cited by The Wall Street Journal. The budget airline is negotiating with bondholders to develop a bankruptcy plan that would gain creditor support, as it faces mounting losses, a $1.1 billion