Spirit Airlines’ shares plunged more than 50% in early trading Wednesday, following a report that it is preparing to file bankruptcy — and the company’s announcement that it won’t report quarterly financial results because it’s scrambling to reach a deal with creditors.

Spread the loveRumors are swirling about the financial health of Spirit Airlines, a budget carrier known for its ultra-low fares and often-criticized ancillary fees. While the airline hasn’t officially filed for bankruptcy,