Spirit Airlines files for bankruptcy

Spirit Airlines said Monday that it's filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and failed attempts to sell itself to other carriers.

Spirit, the biggest U.S. budget airline, has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion over the next year, obligations it was unlikely to be able to meet.

The move was widely expected.