Spirit Airlines collapses after announcing bankruptcy protection – 11/13/2024 at 10:54

Spirit Airlines collapses after announcing bankruptcy protection – 11/13/2024 at 10:54
Spirit Airlines collapses after announcing bankruptcy protection – 11/13/2024 at 10:54

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

November 13 – **Shares of U.S. carrier Spirit Airlines SAVE.N fall 62.4% to $1.22 premarket

** Spirit Airlines is preparing to file for bankruptcy protection after merger talks with Frontier Airlines failed, the Wall Street Journal reported Tuesday

** Spirit Airlines said it is in discussions with its creditors and continues to explore strategic alternatives to improve its liquidity

**If the deal fails it will lead to the cancellation of existing equity and Spirit will consider all alternatives

** The company said third-quarter adjusted operating margin would be down 12% from last year

**Spirit has not reported profits in the last five out of six quarters

** At the last close, the stock was down 79.8% since the start of the year

Swiss

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