00:00It's Benzinga bringing Wall Street to Main Street.
00:02Streat Airlines has filed for Chapter 11 bankruptcy on Monday.
00:05The carrier plans to continue operations as it restructures and expects to emerge
00:09from bankruptcy in early 2025. The airline has cited surging costs,
00:14pandemic impacts, and the failure of its proposed JetBlue merger as key factors.
00:19Shares have plunged over 90% this year and will be delisted.
00:23Spirit's business model, which is inspired by basic economic offerings from major carriers,
00:28faces challenges in a post-pandemic travel landscape.
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