Coconutdaddy Productions

 Hold on to your peanuts and pretzels, folks, because Spirit Airlines has officially filed for bankruptcy protection. The no-frills airline, once the darling of budget travelers, has been on a financial nosedive with a string of quarterly losses, botched merger attempts, and looming debt maturities. The final nail in the coffin? The collapse of its $3.8 billion merger with JetBlue Airways back in January, coupled with the Pratt & Whitney engine fiasco that grounded a bunch of their planes. Talk about a perfect storm of bad luck. via GIPHY Spirit's assets and liabilities are somewhere between $1 billion and $10 billion each, according to their court filing. But hey, at least they've got a plan! They've struck a deal with their bondholders to slash some debt and gain a bit more financial wiggle room. So, while Spirit tries to pull off a financial Houdini act, passengers can still book flights and use their loyalty points. But don't be surprised if things get a b...