FORT LAUDERDALE, FLA. — Spirit Airlines said it plans to emerge from Chapter 11 bankruptcy protection by early summer by prioritizing its strongest markets and offering more premium selections. The ultra low-cost carrier has filed for bankruptcy protection twice since late 2024, in November 2024 and August 2025.

Spirit has not confirmed that it is considering liquidation. The airline said in a statement: "We do not comment on market rumors and speculation. Our operations continue as normal."

The carrier has grounded many of its planes due to engine issues. In 2022, Spirit agreed to merge with JetBlue, but a judge blocked the proposed combination in 2024 due to concerns that it would monopolize the industry.

From February 2025 to January 2026, Spirit held 3.4% of the domestic airline market share, compared to between 16% and 18% for Delta, American, Southwest and United, according to the Bureau of Transportation Statistics. The airline had about 27% of the market share in Fort Lauderdale, Fla., in January 2026.

Mike Boyd, CEO of Boyd Group International, questioned the airline's path forward. "Spirit has just declined to the point now where they'll have to shrink to survive. And no airline can shrink to survive," he said.

Jan Brueckner, a retired economics professor, said travelers could lose options if Spirit contracts further. "The alternatives won't be there," he said.

Brueckner also commented on the role of low-fare carriers in the broader market. "In other words, having big players that are charging low fares, that's good for everybody. Not good for United, American, Delta — but it's good for the traveling public," he said. Other ultra low-cost carriers include Frontier, Breeze and Avelo.