United Airlines Holdings Inc(NASDAQ:UAL) shares are trading higher by 4.9% to $58.39 Friday afternoon. Shares of airline companies are trading higher following a report suggesting thatSpirit Airlinesis considering bankruptcy.
What's Happening:United Airlines shares rose Friday as news broke that budget carrier Spirit Airlines was engaging in bankruptcy talks with bondholders, potentially signaling a major shift in the competitive landscape of the U.S. airline industry.
Spirit, grappling with $3.3 billion in debt and facing the possibility of aChapter 11 bankruptcy filing, has seen its stock plummet by more than 40% in pre-market trading, leading investors to reassess...
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