Shares of Spirit Airlines plunged 37% to a record low on Friday after a report that the ultra low-cost carrier was discussing a potential bankruptcy filing. The airline has been losing money despite strong travel demand, raising doubts about its ability to manage looming debt maturities.

Shares of discount airlines Frontier Group Holdings and JetBlue surged Friday on a report that rival Spirit Airlines is holding discussions about a possible bankruptcy.

Spirit Airlines is one of the worst stocks Friday as reports swirl that the discount airline could file for bankruptcy.