Spirit Airlines Planning To File Bankruptcy As Merger Talks w Frontier Airlines Fall Through

Spirit Airlines Planning To File Bankruptcy As Merger Talks w Frontier Airlines
Fall Through

Looks like Spirit Airlines is preparing to file for bankruptcy soon.

According to The Wall Street Journal, which cited people familiar with the situation, the air travel company is towards the end of discussions with bondholders, trying to work out a bankruptcy plan that would be supported by most of its creditors after failing to turn a profit in the last five out of six quarters.

 

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The news comes just a month after WSJ published a different report, claiming that Frontier Airlines was interested in bailing out their competitors with a merger in light of their looming, growing debt.

However, WSJ clarified in a report yesterday (November 12th) that Frontier is not ready to make such an acquisition.

Spirit is expected to submit the bankruptcy filing within the next few weeks.

?: Kay Johnson