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

  • Spirit Airlines has filed for bankruptcy protection due to more than $2.5 billion in losses since 2020 and over $1 billion in looming debt payments.
  • The airline will operate normally during its prearranged Chapter 11 bankruptcy process, allowing customers to book flights without interruption.
  • Spirit Airlines' shares fell 25% after discussions about bankruptcy terms with bondholders were reported by The Wall Street Journal.
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