Spirit Airlines files for bankruptcy amid financial losses and debt obligations

Spirit Airlines has incurred significant financial losses since 2020, with the total amount exceeding $2.5 billion. The airline is facing substantial debt payments totaling over $1 billion in the next year, which poses a major financial challenge. Spirit has attempted to recover from the decline in travel caused by the pandemic and a failed sale to JetBlue. It is worth noting that Spirit has reassured its customers that all tickets, credits, and loyalty points remain valid.