Spirit Airlines (FLYY)is expected to enter bankruptcy for the second time in a year after an earlier reorganization failed to put it on stable financial ground, Alison Sider and Alexander Gladstone of The Wall Street Journal reported, citing people familiar with the matter. Spirit filed for chapter 11 last November after multiple unsuccessful attempts to merge with other airlines. Spirit reportedly still carried more than $2B of debt after the bankruptcy proceeding and was left with inflated aircraft lease costs.
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