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Spirit Airlines has crashed down to earth. On Saturday, the ultra-low-cost carrier abruptly shut down operations, leaving customers and crew members stranded across the U.S. In a statement, the company cited the rising cost of fuel due to the Iran war and the failure to obtain a bailout from the Trump administration as major contributors to the airline’s collapse.
“In March 2026, we reached an agreement with our bondholders on a restructuring plan that would have allowed us to emerge as a go-forward business,” Spirit CEO Dave Davis said in a statement. “However, the sudden and sustained rise in fuel prices in recent weeks ultimately has left us with no alternative but to pursue an orderly wind-down of the Company.” The company had filed for bankruptcy twice in the past few years and was dealing with a wide range of (pardon me) headwinds.
