Spirit Airlines has officially filed for Chapter 11 bankruptcy, marking a significant turn for the budget airline, which has faced mounting losses and a drastic drop in stock value. This bankruptcy filing affects travelers differently; while experts believe it will not significantly impact holiday travel plans, there could be long-term effects for frequent flyers and specific routes next year. The airline has begun discussions for debt restructuring and seeks amendments to navigate the bankruptcy process, indicating hopes for recovery. Meanwhile, concerns grow about the implications for consumers and shareholders, as well as potential benefits for other airlines in the market. Local airports, including those in Myrtle Beach and Detroit, are monitoring the situation closely as it unfolds.