3 Airline Stocks Falling Amid Higher Oil Prices, Spirit Woes
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Spirit Airlines Inc (SAVE) has filed for Chapter 11 bankruptcy protection due to significant losses and $1.1 billion in debt. This development, along with rising oil prices, is impacting airline stocks negatively.
November 18, 2024 | 6:30 pm
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Spirit Airlines has filed for Chapter 11 bankruptcy protection due to mounting losses and $1.1 billion in debt.
The filing for Chapter 11 bankruptcy indicates severe financial distress, likely leading to a decline in stock price as investors react to the uncertainty and potential restructuring.
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