Spirit tumbles to record low on report it's exploring a bankruptcy filing. Here's how it got here

Spirit Airlines shares tumbled to a record low on Friday after a report that it's exploring Chapter 11 bankruptcy protection. The carrier faces a deadline this month to renegotiate more than $1 billion in debt. A bankruptcy filing would mark a dramatic turn for the carrier with its iconic yellow planes that caters to budget-conscious travelers. Profitable and punctual before the pandemic, Spirit's no-frills service became a punchline for late-night comedians and a thorn in the side of big network carriers, ...