Spirit Air Says No Bankruptcy Planning After JetBlue Setback (2)

Spirit Airlines Inc. downplayed speculation it’s planning a bankruptcy-driven restructuring even as the discount carrier reexamines its balance sheet following the collapse of a planned sale to JetBlue Airways Corp.

“Spirit is not pursuing nor involved in a statutory restructuring,” the company said in an emailed statement late Thursday.

The comment offers a glimpse into how the airline plans to navigate a heavy debt load and diminished prospects in the low-cost travel market. Spirit said earlier Thursday that it “has been taking, and will continue to take, prudent steps to ensure the strength” of its finances and ongoing operations. The ...