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The company is reportedly back in merger talks with Frontier.
Spirit Airlines stock plunged 59% on Wednesday as the budget airline explores a deal with creditors to restructure its debt amid a reported threat of bankruptcy after merger talks with Frontier ...
The company's stock tanked Wednesday after The Wall Street Journal reported Spirit was preparing to file for Chapter 11 within weeks following the breakdown of merger talks with Frontier Airlines.
Spirit is flying into a lot of headwinds right now.
Spirit Airlines' $3.8 billion sale to JetBlue isn't dead yet. The carriers said Friday that they will appeal a ruling by a federal judge earlier this week that blocked the deal on antitrust grounds.
Spirit's stock fell to as low as $1.40 on Friday after closing at $2.24 on Thursday. Including the single-day sell-off, Spirit's stock has fallen by roughly 90% in 2024.
A Spirit Airline passenger jet Shares of Spirit Airlines plunged 37% to a record low on Friday after a report that the ultra low-cost carrier was discussing a potential bankruptcy filing.
Spirit, the largest budget airline in the U.S., has lost more than $2.5 billion since the beginning of 2020, driven by a lull in travel during the pandemic era.
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