Stockholders in financially troubled Spirit Airlines, the South Florida-based discount carrier, would see their shares canceled under a potential debt restructuring agreement that has been under negotiation between the airline and its bondholders, the company says.

Spirit Airlines' stock plunged 59% on Wednesday as the budget airline worked with creditors to restructure debt amid reports the company could file for bankruptcy protection within the next few weeks.

Spirit Airlines' stock plunged 59% on Wednesday as the budget airline worked with creditors to restructure debt amid reports the company could file for bankruptcy protection within the next few weeks.

The airline reported a revenue decrease of $61m compared to the same time last year

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Violence continues in Haiti, despite the appointment of a new prime minister. The international airport was shut down after shots were fired at a landing commercial flight.

Shares of the company were down 39% at $1.8 after the bell. The stock has fallen nearly 80% this year, while the S&P 500 passenger airlines index jumped 52%. The ultra-low cost carrier is in advanced discussions with bondholders to hammer out a bankruptcy plan that would have support from a…

A flight of Florida-based Spirit Airlines was hit by gunfire while attempting to land in Haiti with a crew member that sustained "minor injuries."

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