Overview
- The viral “Let’s Buy Spirit” campaign led by creator Hunter Peterson drew hundreds of millions in nonbinding pledges that climbed over the weekend, with several outlets citing at least $337 million and one report on Sunday putting the total at $377 million.
- Spirit shut down and entered liquidation on May 2 after years of losses and a jet‑fuel price spike blew up its exit plan, and the airline says most customers who paid by card are now being automatically refunded.
- Securities lawyers note that regulated crowdfunding is capped at $5 million a year and that larger private raises typically target accredited investors, while bankruptcy adds hurdles like aircraft liens, airport leases, union contracts and FAA approvals.
- Peterson says he has a legal fund to prepare a bid, is talking with potential angel backers, and has support from Spirit’s 5,500‑member flight attendants union, as heavy traffic repeatedly crashed the campaign website.
- Auctions for Spirit’s planes, gates and slots are expected soon, leaving a narrow window for any credible offer and raising the stakes for roughly 15,000 to 17,000 workers and for travelers who relied on the carrier’s lowest fares.