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

  • Spirit Airlines filed for Chapter 11 bankruptcy protection due to significant losses and competition from larger carriers, as stated by the airline on Monday.
  • The airline has incurred over $2.5 billion in losses since 2020 and faces over $1 billion in debt payments due in 2025 and 2026.
  • Spirit Airlines will continue normal operations during bankruptcy and customers can book, fly, and use tickets and loyalty points without interruption.
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