Spirit Airline stock, crashing Friday on reports, the troubled airline is considering filing chapter 11 bankruptcy
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00:00Spirit Airlines stock, well, crashing Friday on reports the troubled airline is considering filing Chapter 11 bankruptcy.
00:08Shares are down more than 30% and 90% this year.
00:13Spirit has not turned a profit since pre-COVID despite record travel demand coming out of the pandemic.
00:20The final blow may have been a failed merger with JetBlue,
00:24which was struck down by a federal judge who sided with the Justice Department argument
00:29that the combination would have hurt competition and increase prices for budget travelers.