The Wall Street Journal, citing anonymous sources, reported late Tuesday that the airline was discussing terms of a possible bankruptcy filing.

Stockholders in financially troubled Spirit Airlines, the South Florida-based discount carrier, would see their shares cancelled under a potential debt restructuring agreement that has been under

Spirit had been exploring a merger with Frontier Airlines, another low-cost airline, in hopes of restructuring its debt and other liabilities without a bankruptcy filing. In March, JetBlue and Spirit Airlines ended their proposed $3.8 billion merger after ...

The Miramar, Florida-based discount airline is expected to file for bankruptcy protection from its debts in as little as 10 days or within weeks, sources familiar with the matter confirmed to CBS News. The Wall Street Journal first reported the looming bankruptcy filing.

JetBlue shares rose as Spirit Airlines faces potential bankruptcy, affecting investor confidence and industry dynamics.