Spirit Airlines filing for bankruptcy -- will this affect holiday travel?

Spirit Airlines is dealing with a financial mess and is now filing for Chapter 11 Bankruptcy protection.

The low-cost carrier owes millions, and hopes restricting the debt will help the airline soar into the future.

The CEO said Monday morning, “I am pleased we have reached an agreement with bondholders, which is a strong vote of confidence in Spirit and our long-term plan. The most important thing to know is travelers can continue to book and fly now and in the future.”

The airlines saying they don’t expect travel to be affected this year, but travel insiders tell Help Me Hank they foresee big problems starting as early as Jan 2025. This will likely be due to losing employees while working to maintain a busy travel schedule. If you do book, make sure you purchase insurance and use a credit card, which will offer you more protection.