American low-cost airline Spirit Airlines completely collapses on the New York Stock Exchange after reports that the company may be heading towards bankruptcy filing.

The company's stock is down just over 50 percent after a couple of hours of trading, while the company announces that the publication of the upcoming interim report is being postponed.

The information about a The bankruptcy filing was revealed by the Wall Street Journal and the company has subsequently announced that it is in dialogue with various parties regarding a reconstruction.

Spirit Airlines, like many of its industry peers, was extremely pressured during the pandemic, when virtually all air traffic slowed down. A couple of years ago, it hoped to merge with competitor Jetblue, a deal that fell through after US authorities blocked it on competition grounds.

Source: TT-DI.SE