Struggling ultra-low-cost carrier Spirit Airlines filed for bankruptcy protection on Friday, marking its second filing this year. It comes just months after the airline emerged from Chapter 11 protection, which followed an agreement to exchange nearly $800 million in debt for equity.

The restructuring will not affect any flights or prevent passengers from booking future flights. However, in an attempt to reduce mounting costs, the airline has been working to scale down its workforce, network, and fleet.

Looking Toward The Future

In an open letter to its passengers, the carrier said it has taken a “proactive step to build a stronger foundation and future.” Spirit filed voluntary petitions for Chapter 11 in the US Bankruptcy Court for the Southern District of New York. According to

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