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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 airline passengers.
  • The airline has lost over $2.5 billion since early 2020 and faces debt payments exceeding $1 billion next year.
  • Spirit confirmed it expects to operate normally during its Chapter 11 bankruptcy process, allowing customers to continue booking flights.
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