Spirit Airlines said Wednesday that it won't announce its quarterly financial results because the company is focused on talks with bond holders to restructure its debt. The budget airline has been struggling to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue.

Shares of Spirit Airlines plunged by more than half Nov. 13 after the budget carrier disclosed that it won't announce quarterly financial results on time while it continues talks with lenders 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.