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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 bargain-seeking airline passengers.
  • The airline will continue to operate normally as it restructures its debt, allowing customers to book and fly without interruption.
  • Spirit expects to emerge from bankruptcy early next year with reduced debt and increased financial flexibility for long-term success.
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