Spirit Airlines, the king of budget-friendly flights, has officially filed for bankruptcy. This news might sound alarming, but before you panic about your upcoming trip, here's a breakdown of what's happening and how it might affect your travel plans.

Why did Spirit file for bankruptcy?

A few factors led to this decision:

• Financial struggles: Spirit has been dealing with losses for a while now.
• Failed mergers: Attempts to merge with JetBlue and Frontier fell through.
• Engine problems: Issues with their Airbus A320 engines led to grounded planes and disruptions.

What does this mean for passengers?

The good news is, Spirit plans to continue operating flights as usual during the bankruptcy process. You can still book flights, use existing tickets, and redeem your loyalty points.

Here's what you need to know:

• Short-term impact is minimal: Your Thanksgiving travel should be fine, but there might be some schedule changes or cancellations later in the winter.
• Stay informed: Keep an eye out for notifications from Spirit about any changes to your itinerary.
• Know your rights: The Department of Transportation has rules about refunds for canceled or significantly delayed flights, so familiarize yourself with those.
• Loyalty programs should be safe: Frequent flyer programs are valuable assets, and they often survive bankruptcies. Spirit might even merge with another airline, in which case your miles would likely be transferred.

What about Spirit's planes?

Some of Spirit's planes are leased, and those will go back to the lessor. Spirit might sell some of its owned planes to raise money, but they could also decide to keep them flying if that makes more financial sense.

The bottom line:

While bankruptcy might sound scary, Spirit is taking steps to minimize disruptions for passengers. Stay informed, be prepared for potential changes, and don't hesitate to reach out to Spirit customer service if you have any questions.