Budget travel icon Spirit Airlines files for bankruptcy protection after mounting losses

Spirit Airlines, an icon of budget air travel that reshaped the industry, has filed for bankruptcy protection after years of mounting losses, a failed merger and more demanding consumer tastes.The carrier early Monday announced a prearranged deal with its bondholders including $300 million in debtor-in-possession financing. It said that vendors, aircraft lessors will not be impaired.The airline said it expects to continue operating normally "throughout this prearranged, streamlined chapter 11 process" and s ...