Spirit Airlines is exploring strategic options after financial restructuring falls short. The airline enlists PJT Partners, FTI, and Seabury Airline Strategy Group for guidance. Uncertainty looms post-bankruptcy emergence due to weak demand and cash reserves. Shares drop 14.6% to $1.40. Ratings agencies downgrade due to high cash burn and default risks.

Read more at Yahoo Finance: Spirit Airlines hires advisers to weigh options after revamp efforts falter, WSJ reports