Spirit Airlines, the largest U.S. low-cost airline, has filed for bankruptcy protection as it struggles to recover from financial woes exacerbated by the pandemic and an unsuccessful merger with JetBlue.
Despite losing more than $2.5 billion since 2020, Spirit says it will continue normal operations, reassuring customers that their reservations are secure.
With a looming $1 billion in debt, Spirit is focused on refinancing debt, increasing liquidity and launching new products, while adjusting its strategies amid a challenging market environment.
(With input from agencies.)
