If they are acquired this should resolve No. Right?

Polymarket has them at 10% for bankruptcy by the end of January which seems unlikely in such a near term but there's a lot of bankruptcy talk out there after the Jet Blue block

Not all analysts see a bankruptcy and liquidation in Spirit’s future, but many were cautioning that its financial outlook remains grim.

“We are not (yet) predicting an immediate [Spirit] chapter 11 filing,” said the airline analysts at JPMorgan Chase, referring to the bankruptcy code used in such filings. But, they added, “we can not reasonably identify a viable return to profitability any time soon.”

Spirit did not directly comment on Becker’s analysis but said it is confident it will be able to survive the current problems.

https://www.reuters.com/business/aerospace-defense/spirit-airlines-finds-itself-with-few-options-after-judge-blocks-deal-with-2024-01-16/