Spirit Airlines is preparing toΒ file for bankruptcy protectionΒ after merger talks with Frontier Airlines nosedived – sparking fears among flyers about mass cancelations.Β
After news broke about the merger breakdown, the troubled airline’s share price plummeted 45 percent in just seconds – erasing hundreds of millions in market value from the low cost carrier.
The Florida-based airline is in final negotiations with bondholders on a restructuring plan to secure the support of key creditors, the Wall Street Journal reported this evening. It owes more than $3 billion.
π¨BREAKING: Spirit Airlines, known for its cheap flights prices and overpriced baggage fees and other services, is preparing to file for bankruptcy. pic.twitter.com/8USgzG09R4
— R A W S A L E R T S (@rawsalerts) November 13, 2024
BREAKING: Spirit Airlines, $SAVE, is preparing to file for bankruptcy.
— The Kobeissi Letter (@KobeissiLetter) November 12, 2024
The stock just crashed -28%. pic.twitter.com/BHsxdYA88d
