Shares of Spirit Airlines have plummeted following reports of the airline's consideration of a potential bankruptcy filing. According to various sources, including the Wall Street Journal, the company is currently engaged in discussions with bondholders about the terms surrounding this potential Chapter 11 filing. This news comes months after an unsuccessful merger attempt with JetBlue, and has led to Spirit shares hitting an all-time low. The airline is exploring its options as it navigates these challenging financial circumstances.