Overview
- Spirit Airlines, which announced the step Saturday, cancelled all flights and told customers to stay away from airports.
- CEO Dave Davis blamed a jet-fuel surge tied to the Middle East war that doubled costs since late February and left the airline short of the hundreds of millions it needed despite a March restructuring plan.
- The White House explored a $500 million rescue using government warrants, yet the effort did not produce a deal.
- The company said it will issue refunds for purchased tickets, though its website now says customer service is unavailable.
- American and United said they will offer discounted fares on overlapping routes and help Spirit crews get home as the ninth-largest U.S. carrier prepares to wind down.