Spirit Airlines says it won’t announce its quarterly financial results on time because the company is focused on talks with bond holders to restructure its debt

The Wall Street Journal, citing anonymous sources, reported late Tuesday that the airline was discussing terms of a possible bankruptcy filing.

Stockholders in financially troubled Spirit Airlines, the South Florida-based discount carrier, would see their shares cancelled under a potential debt restructuring agreement that has been under

Spirit Airlines stock tumbled in premarket trading Wednesday following a report that said the ultra-low-cost carrier was preparing to file for bankruptcy protection.The filing could come within weeks,

Spirit Airlines Inc.’s stock cratered 55% Wednesday, on track for its biggest-ever one-day decline, after the company warned that its equity would be wiped out as part of a restructuring deal that it’s currently negotiating with its creditors.

The Miramar, Florida-based discount airline is expected to file for bankruptcy protection from its debts in as little as 10 days or within weeks, sources familiar with the matter confirmed to CBS News. The Wall Street Journal first reported the looming bankruptcy filing.