Budget US carrier Spirit Airlines said Friday that it will file for bankruptcy for the second time in a year, but will continue to fly, sell tickets and operate.

Spirit first filed for bankruptcy in November and announced in March that it had completed a restructuring deal with creditors to trim its debt by nearly $800 million.

With the new filing, the Florida-based company said it "expects to double down on its efforts to" redesign its network, "rightsize its fleet," and pursue further cost efficiencies.

"The Chapter 11 process will provide Spirit the tools, time and flexibility to continue ongoing discussions with all of its lessors, financial creditors and other parties to implement a financial and operational transformation of the Company," Spirit said in a statement.

In April, for

See Full Page