Skift Take
The Journal reported that Spirit is looking to bankruptcy after talks with Frontier about reviving a merger broke down.
Spirit Airlines is preparing to file for bankruptcy protection after talks with Frontier about a potential merger broke down, according to a report published in The Wall Street Journal on Tuesday.
The ultra-low-cost carrier is currently in advanced talks with bondholders to figure out a bankruptcy plan that would support the majority of creditors, according to the Journal. A bankruptcy filing could come in weeks.
Spirit has struggled with mounting losses and debt as it has sought ways to shore up its balance sheet. The carrier is the only in the U.S. to have not reported third-quarter earnings.
Spirit did not immediately re