Budget airline Spirit was soaring earlier this year as Frontier and JetBlue engaged in a bidding war to buy out the smaller airline. But now, Spirit is struggling to stay aloft – and a judge has blocked its merger with JetBlue citing antitrust issues.

WSJ’s Alison Sider explains how the ultra low cost carrier went from the most profitable, fastest-growing U.S. airline to a company whose future is up in the air after announcing narrower losses for last quarter. .

Chapters:
0:00 Spirit’s situation
0:38 Overview of Spirit
2:13 The turning point
3:38 The downfall
6:04 What’s next?

What Went Wrong explores the challenging conditions and decisions that led to a company's downturn.

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