Spirit Airlines, which flies out of Logan Airport, may be filing for bankruptcy. Here's what to know [CBS News]
Spirit Airlines, Inc. (SAVE)
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Source: CBS News
Revenue down CBS News sources said Spirit Airlines is preparing to file for bankruptcy protection . The ultra-low cost carrier has been battling debt, rising costs and increased competition. It has lost more than $2.5 billion since the beginning of 2020, driven by a lull in travel during the pandemic era. In the first six months of 2024, Spirit passengers flew 2% more than they did in the same period last year, but spent 10% less per mile. The airline's revenue per mile from fares was down nearly 20%, contributing to its losses. Spirit flies from Logan to 17 destinations, including Baltimore, Fort Lauderdale and Myrtle Beach. Should travelers avoid Spirit? As for what travelers should do, CBS News Travel Editor Peter Greenberg said their best bet is to have a backup plan. "I am not going to tell you to book away from Spirit but what I will tell you to do is hedge your bets," said Greenberg. "Book a refundable ticket on another competing carrier and then if Spirit doesn't fly,
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