Spirit Airlines said Monday it has filed for Chapter 11 bankruptcy protection after struggling with losses, growing debt and a failed merger during the post-pandemic travel lull.The company said in a stock market statement that it had secured a prearranged deal with bondholders that includes £300 million in financing to keep it afloat,

Spirit told passengers they can continue to book flights and travel with the airline following its decision to file for Chapter 11 protection.

Spirit Airlines has filed for Chapter 11 bankruptcy protection, becoming the first major U.S. passenger carrier to do so since American Airlines 13 years ago.