Spirit Airlines Files for Second Bankruptcy in Under a Year (2)

Spirit Aviation Holdings Inc. filed for bankruptcy for the second time in less than a year after failing to turn around its cash-strapped airline.

The carrier filed Chapter 11 on Friday in New York, listing assets and liabilities of between $1 billion and $10 billion on a bankruptcy petition. The filing comes amid active negotiations with some of its largest lessors, secured noteholders and key stakeholders, the carrier said in a statement.

Spirit said in a subsequent filing that it had received a written notice of default Aug. 25 from its lessor AerCap Holdings, which said it terminating dozens of ...