From Fortune Magazine:

1. Spirit Airlines is in financial trouble with no profitable year since before the pandemic. Plans to sell to JetBlue for $3.8 billion were shut down by a federal judge, leaving the company with $1.1 billion in debt and a bleak outlook.

2. With no immediate merger in sight, Spirit is facing the possibility of filing for Chapter 11 bankruptcy and liquidation. Analysts predict that there are limited scenarios enabling Spirit to restructure, casting a shadow over the future of the airline.

3. Judge William Young’s ruling sent shares falling down and left JetBlue too, in a troubling position making the future of the airline business unclear. The administration has not commented on the situation, leaving many industries in the dark about future possibilities.



Read more: Will Spirit Airlines go bankrupt after failed $3.8 billion merger with JetBlue Airways?