Spirit Airlines files for Chapter 11 bankruptcy protection

Spirit Airlines has filed for Chapter 11 bankruptcy protection following significant financial struggles due to mounting losses and debt maturities, the airline announced Monday.

The filing comes after two failed mergers in less than two years – one recently with Frontier and another earlier in 2024 with JetBlue – which left the ultra-low-cost carrier in a bind after repetitive quarterly losses.

In October, Spirit announced plans to sell multiple aircraft and lay off workers as it tried to raise cash and revive operations.