Spirit Airlines, the largest budget carrier in the U.S., filed for Chapter 11 bankruptcy protection Monday. The airline said customers should not see any disruption to their travel plans while the process unfolds.
The filing followed years of struggles for the Florida-based airline, which is known for its no-frills, low-cost flights. Spirit failed to bounce back from the COVID-19 pandemic, largely due to rising operating expenses and stiffer competition. The airline has lost more than $2.5 billion since the beginning of 2020 while also racking up mounting debt.
