Spirit Airlines has filed for Chapter 11 bankruptcy protection, the company announced Monday morning.

US budget carrier Spirit Airlines has filed for bankruptcy protection after a long run of financial losses and a series of failed merger attempts. On Monday, the Florida-based airline said it had arranged an agreement to restructure its debt and raise money during a bankruptcy process that is expected to last until early 2025.

Spirit Airlines told customers Monday that they should continue feeling comfortable booking flights “now and in the future,” despite the airline filing for bankruptcy.