Spirit Airlines, a budget airline, has filed for bankruptcy for the second time in less than a year. Despite earlier restructuring efforts, the airline faces significant debt ($2.4 billion) and poor cash flow. While flights will continue, employees are uncertain about the future. The airline cites rising operational costs, weak domestic travel demand, and competition from larger airlines as contributing factors. Spirit is exploring options like selling assets to improve its financial situation. Although the airline is attempting to expand into higher-end travel, its financial troubles persist.

Prepared by Christopher Adams and reviewed by editorial team.