Overview
- Spirit said early Saturday it is shutting down immediately, canceling all flights and telling customers not to go to the airport.
- The airline will automatically refund tickets bought directly, and travelers who booked through an agency should seek refunds from the agent.
- A proposed $500 million White House lifeline that swapped cash for warrants up to a 90% government stake fell apart after resistance from key bondholders and divisions inside the administration.
- Jet fuel prices roughly doubled after the U.S. and Israel began strikes involving Iran on February 28, wiping out Spirit’s cost assumptions and undercutting its planned summer exit from Chapter 11.
- American, Frontier, and United said they will help stranded travelers and employees, while analysts warn that losing a major ultra‑low‑cost carrier could reduce competition and push fares higher on affected routes.