The American low-cost airline Spirit Airlines is completely collapsing on the New York stock exchange after reports that the company may be heading towards a bankruptcy application.
The company's share is down over 50 percent after a couple of hours of trading, while the company announces that the publication of the upcoming quarterly report is being postponed.
The reports of a bankruptcy application have been revealed by the Wall Street Journal and the company has subsequently announced that it is holding a dialogue with various parties regarding a reconstruction.
Spirit Airlines was, just like many industry colleagues, extremely pressured during the pandemic when almost all air traffic ceased. A couple of years ago, they hoped for a merger with the competitor Jetblue, a deal that was however stopped by American authorities due to competition reasons.
