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Business•NOV 17, 2024

Spirit Airlines Files for Bankruptcy as Rising Costs and Competition Take Toll

Spirit Airlines, once a dominant player in the ultra-low-cost carrier market, has filed for Chapter 11 bankruptcy protection, citing financial struggles fueled by rising fuel costs, operational challenges, and increased competition. The move marks a significant shake-up in the airline industry, as Spirit’s aggressive cost-cutting model faces growing pressure from larger carriers and shifting consumer preferences.

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