Spirit Airlines (NK, Fort Lauderdale International) is preparing to file for Chapter 11 bankruptcy protection after renewed merger talks with Frontier Airlines (F9, Denver International) broke down, people familiar with the matter have told the Wall Street Journal.

Grappling with mounting losses and looming debt maturities, the carrier is in advanced discussions with bondholders to devise a bankruptcy plan that would have the support of most creditors. According to the sources, a bankruptcy filing is expected within weeks. This comes…

Source: ch aviation
Read more: US's Spirit eyes Ch 11 as Frontier talks crumble – report