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Budget travel icon Spirit Airlines files for bankruptcy protection after mounting losses

  • Spirit Airlines filed for bankruptcy protection on Monday due to mounting losses, unaffordable debt, and increased competition for budget travelers.
  • The airline will continue normal operations during the Chapter 11 bankruptcy process, and customers can still book flights.
  • Spirit has lost over $2.5 billion since 2020 and will likely be delisted from the New York Stock Exchange, with its stock expected to be canceled.
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