Spirit Airlines files for Chapter 11 bankruptcy protection for the second time in a year
1. Spirit Airlines filed for bankruptcy after struggling financially again. 2. The airline's network and fleet will shrink to cut costs significantly. 3. Spirit reported a loss of nearly $257 million since emerging from bankruptcy. 4. Competitors, including Frontier, are aggressively pursuing Spirit’s customers. 5. Spirit's shares have dropped 72% in the past month.