The airline is the first U.S. airline casualty of the jet fuel crisis brought on by the Iran war—but it may not be the last.

The airline is the first U.S. airline casualty of the jet fuel crisis brought on by the Iran war—but it may not be the last.

Talks with bondholders for a government bailout this week have not yet yielded a deal.

The budget airline had been hopeful the federal government might provide a last-minute rescue deal.

President Donald Trump said that his administration had made a "final" bailout offer to Spirit Airlines as reports said it is about to shut down.

Bankrupt discount carrier Spirit Airlines ceased operations on Saturday, the industry’s first casualty linked to the Iran war, after failing to secure

The airline had been in talks with the Trump administration about a $500m bailout.

Company had struggled to increase post-pandemic demand before war in Iran pushed up jet fuel costs

Global carriers are contending with surging jet fuel prices since the U.S.-Israeli strikes on Iran disrupted traffic through the Strait of Hormuz.

Jet fuel prices have doubled during the conflict, and a Trump-backed US$500 million bailout did not materialise.

The pioneering American low-cost airline announced it would cease operations on May 2, despite the White House's best efforts. Other airlines have made arrangements to honor…