American low-cost airline Spirit Airlines is facing financial challenges after a planned sale to JetBlue in January 2024 was blocked on antitrust grounds.
Spirit has until October 21, 2024, to find a solution to extend or refinance its bonds due in 2025, but this is proving difficult. According to a report in the Wall Street Journal, the company's management is now considering filing for Chapter 11 bankruptcy protection. Spirit Airlines has debts of about three billion dollars and has posted losses in five of the last six quarters. A larger loss is also expected for the coming quarter.