Spirit at risk of BANKRUPTCY as shares plummet 17% after failed merger

Shares of fell 17 percent in morning trade on Wednesday, a day after a U.S. judge blocked the airline's planned $3.8 billion merger with rival JetBlue Airways.

The company hasn't made money since before the pandemic, ticket sales haven't bounced back as quickly as the carrier expected, and dozens of its planes will be grounded at times this year because of a problem with the engines.

A sale to JetBlue represented a lifeline for Spirit, which faces $1.1 billion in debt maturing next year.

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