A blocked merger with JetBlue, an engine recall and changing consumer habits contributed to Spirit's troubles.

South Florida-based Spirit Airlines indicated it is still focusing on recasting the terms of its debt with bondholders, but did not address a national report that it has discussed a Chapter 11

Shares of Spirit Airlines fell by over 30% on Friday, pacing the company’s worst loss since a merger with JetBlue Airways was blocked earlier this year, after reports indicated the low-cost airline was exploring bankruptcy. Spirit’s shares dropped to just over $1.50 as of around 9:50 a.m. Friday, following an earlier plunge in premarket trading.

Shares in Spirit Airlines (SAVE) sank, after the Wall Street Journal reported that the budget carrier has been discussing a poss

Shares of Spirit Airlines fell significantly in premarket trading today after WSJ reported the low-cost carrier is considering bankruptcy.

The budget carrier has lost more than 85 percent of its value since it failed to merge with JetBlue Airways earlier this year.

The budget carrier has been discussing a possible restructuring agreement to be implemented in chapter 11.

Spirit Airlines’ efforts to restructure its debt and avoid filing for bankruptcy have hit a snag after months of talks with bondholders failed to result in a deal, according to people with knowledge of the matter.

By Pratyush Thakur and Rajesh Kumar Singh (Reuters) -Shares of Spirit Airlines plunged 37% to a record low on Friday after a report that the ultra low-cost carrier was discussing a potential bankruptcy filing.