Spirit Airlines, one of the biggest budget airlines in the U.S., has filed for bankruptcy protection. Company leaders have struggled to recover from the pandemic's impact on travel.
Since the beginning of 2020, the airline has lost more than $2.5 billion and has debts totaling more than $1 billion over the next year.
Previously the airline failed to reach a merger deal with fellow budget airline Frontier, as well as failed to sell to JetBlue.
The company expects to operate as normal as it works its way through the Chapter 11 bankruptcy process, and you can continue to book and fly without interruption.
The last bankruptcy filed by a major U.S. airline was American Airlines back in 2013.
