Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom ...Middle East

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Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom
source : News10NBC ( Middle East ) () 66
Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest U.S. budget airline, has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion over the next year. Spirit said it expects to operate as normal as it works its way through a prearranged Chapter 11 bankruptcy process and that customers can continue to book and fly without interruption. Shares of Miramar, Florida-based Spirit dropped 25% on Friday, after The Wall Street Journal reported that the airl

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