Spirit Airlines is preparing to file for bankruptcy protection, according to a report by the Wall Street Journal. The move comes after merger talks with Frontier Airlines broke down, leading the budget airline to seek other alternatives as it deals with ...

Spirit Airlines shares are plunging more than 60% in premarket trading on a report that the budget carrier is getting ready to file for bankruptcy protection after revived merger talks with Frontier Airlines parent Frontier Group Holdings collapsed.

The budget carrier is in advanced discussions with bondholders over a filing that could occur within weeks.

Spirit Airlines is now reportedly in advanced talks over a possible bankruptcy filing following a failed merger and continued financial struggles, The Wall Street Journal reported Tuesday evening. The company had been exploring a merger with another low-cost airline,

Shares of Spirit Airlines plunged by 62.73% in after-hours and closed nearly 5.29% lower at $3.22 apiece on Tuesday after the company failed to file its earnings for the quarter ended September 2024.