In a shocking turn of events, Spirit Airlines is reportedly preparing to file for Chapter 11 bankruptcy protection. This news comes on the heels

The Miramar, Florida-based discount airline is expected to file for bankruptcy protection from its debts in as little as 10 days or within weeks, sources familiar with the matter confirmed to CBS News. The Wall Street Journal first reported the looming bankruptcy filing.

The embattled discount airline is in rough financial shape, with shares falling 64% in premarket trading on Wednesday. Here’s the latest. Shares in Spirit Airlines (NYSE: SAVE) are trading down over 64% in premarket as of this writing.

Spirit Airlines shares plunged Wednesday on a report that the budget carrier is getting ready to file for bankruptcy protection after revived merger talks with Frontier Airlines parent Frontier Group Holdings collapsed.

It turns out that Boeing’s huge layoff plans were not just a strike threat. Spirit Airlines can’t put out an earnings report that might show investors how close it is to bankruptcy. Rich people take private flights like the rest of us take taxis.

The largest U.S. budget airline, Spirit Airlines, is allegedly contemplating bankruptcy. The Wall Street Journal reports that this development comes on the heels of failed merger talks with Frontier Airlines,

The budget airline, which is reportedly on the brink of bankruptcy after its merger talks with Frontier collapsed, is known for being…well, not necessarily the gold standard of air travel. But if you’re traveling light (a checked bag will cost you) and willing to contort your body into a vanishingly small amount of cabin space,

Spirit Airlines is preparing to file for bankruptcy. The low-cost airliner has been dealing with mounting losses and debt.

Spirit Airlines is in crisis mode! After a failed merger and a shocking stock plunge, America's top budget airline may soon declare bankruptcy. Could this mean mass cancellations and a shake-up for U.