Spirit Airlines is weighed down by $3.3 billion in debt and a recent report suggests it may soon file for Chapter 11 bankruptcy protection.
Following a failed merger with JetBlue, Spirit Airlines is seeking restructuring options amid heavy losses and a significant debt load, which has impacted their stock prices.
While a Chapter 11 filing could signal trouble for Spirit Airlines, it may also present an opportunity for the company to reorganize its debts and improve its operations.
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