Spirit Airlines files for bankruptcy amid mounting financial losses

Biggest US budget airline says it expects to operate as normal as it works its way through Chapter 11 process

Spirit Airlines said on Monday that it had filed for bankruptcy protection and would attempt to reboot as it struggles to recover from the pandemic-caused decrease in travel and a failed attempt to sell the airline to JetBlue.

Spirit, the biggest US budget airline, has lost more than $2.5bn since the start of 2020 and faces looming debt payments totaling more than $1bn over the next year.