Spirit Airlines, an American low-cost carrier, is facing serious financial difficulties that could lead to bankruptcy. After the collapse of negotiations to merge with JetBlue Airways, Spirit has been in talks with its bondholders about the terms of a possible Chapter 11 filing (the Chapter 11 of the United States bankruptcy law that allows companies to reorganize under the protection of that same law). The airline is exploring several options for a debt restructuring, including a possible out-of-court settlement, sources familiar with the matter reported to "The Wall Street Journal".

Spirit is under pressure from persistent losses and declining revenues, with a total debt of $3.3 billion. Of that, $1.1 billion is represented by secured bonds maturing within the year. This economic crisis is pushing the airline to seriously consider bankruptcy protection to restructure its debts and find a way out of the current difficult moment.