Spirit Airlines is in constructive discussion with its creditors and continues to explore strategic alternatives to improve liquidity, the ultra-low-cost carrier said on Tuesday. The negotiations, with a supermajority of the noteholders,

Spirit Airlines is preparing to file for bankruptcy protection, according to a report by the Wall Street Journal. The move comes after merger talks with Frontier Airlines broke down, leading the budget airline to seek other alternatives as it deals with mounting losses and a tumble in the stock market.