Overview
- U.S. Bankruptcy Judge Sean Lane on Tuesday approved an expedited wind-down that lets Spirit sell aircraft, engines, gates and slots as it liquidates.
- The airline, which canceled all flights on Saturday, carried about 50,000 passengers on final runs Friday and left roughly 17,000 employees facing job loss.
- Spirit’s lawyer said jet-fuel prices surged after U.S.-Israeli strikes on Iran, adding about $100 million to costs in March and April and blowing a hole in cash needs for the year.
- The White House explored a $500 million financing package, but Spirit learned Thursday it would not proceed after creditor objections, removing the last rescue option.
- Customers who paid by credit or debit card are getting automatic refunds, while vouchers and points go through bankruptcy; rival carriers rolled out temporary rescue fares, and analysts warn fewer ultra-low-cost seats could push prices higher over time.