Spirit Airlines files for Chapter 11 bankruptcy protection

Spirit Airlines filed for Chapter 11 bankruptcy protection, the airline announced Monday.

The company said its operations would continue uninterrupted as the bankruptcy process plays out.

The bankruptcy filling took place after two failed mergers, with Frontier Airlines and JetBlue.

"This set of transactions will materially strengthen our balance sheet and position Spirit for the future while we continue executing on our strategic initiatives to transform our guest experience, providing new enhanced travel options, greater value and increased flexibility," Spirit Airlines President and CEO Ted Christie said in a press release. "I'm extremely proud of the Spirit team's hard work and dedication, which is key to our sustained progress in advancing our business and delivering for our guests."