Spirit Airlines finds itself with few options after judge blocks deal with JetBlue

Spirit Airlines faces tough choices about its future including looking for another buyer and finding other ways to shore up its finances after a federal judge on Tuesday blocked its $3.8 billion merger deal with JetBlue Airways, industry experts said. The airline this month completed a series of sale and leaseback transactions covering dozens of planes in a bid to repay about $465 million of debt on those jets. But with a recovery in earnings not in sight, some analysts said the company might consider a bankruptcy filing to clean up its balance sheet and reorganize into a financially stronger airline.