Spirit Airlines announced its intentions to continue flying despite filing for a “prearranged” Chapter 11 bankruptcy protection that helps them stay in business, stated a press release. The bankruptcy filing comes after the agency faced sweeping losses and immense debt,

The budget carrier’s pivot to ultralow fares brought it success but competition, rising costs and a failed merger bid hurt the business.

Share on Facebook Share on Twitter In a move widely expected, Spirit Airlines announced Monday that it has filed for Chapter 11 bankruptcy protection, saying they intend to spend the next year attempt