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

  • Spirit Airlines has filed for bankruptcy protection amid financial struggles, losing over $2.5 billion since 2020 and facing over $1 billion in debt payments in the next year.
  • The bankruptcy follows a failed $3.8 billion merger with JetBlue, which a federal judge blocked citing antitrust concerns that would increase prices for travelers.
  • Spirit Airlines will continue normal operations during bankruptcy and has secured a $350 million investment from bondholders to aid in recovery.
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