Spirit Airlines just landed back into bankruptcy for the second time in less than a year.

Parent company Spirit Aviation Holdings Inc. announced on Friday, Aug. 29, that it has filed for Chapter 11 bankruptcy protection. The filing was made in the U.S. Bankruptcy Court for the Southern District of New York.

Spirit first filed for bankruptcy in November. The airline exited bankruptcy in March but warned in mid-August that it was at risk of shutting down .

The company has since admitted that it did not do enough during its first bankruptcy.

“Since emerging from our previous restructuring, which was targeted exclusively on reducing Spirit’s funded debt and raising equity capital, it has become clear that there is much more work to be done and many more tools are available to best positi

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