** Shares of U.S. carrier Spirit Airlines slide 62.4% to $1.22 premarket
** Spirit Airlines is preparing to file for bankruptcy protection after merger talks with Frontier Airlines broke down, the Wall Street Journal reported on Tuesday
** Spirit said it is in talks with creditors and continues to explore strategic alternatives to improve liquidity
** If the agreement fails, it will lead to the cancellation of existing equity and co will consider all alternatives
** Co said Q3 adj operating margin would be down 12% from last year
** Spirit has failed to report a profit in the last five out of six quarters
** As of last close, stock down 79.8% YTD
(Reporting by Sukriti Gupta in Bengaluru)
((Sukriti.Gupta@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.