Spirit Airlines shutting down after rescue talks collapse
Spirit Airlines is shutting down after failing to secure a $500 million bailout from the Trump administration, leading to an immediate wind-down of operations. The airline cited rising jet fuel costs, exacerbated by the US-Israel war in Iran, as a key factor in its collapse. Customers with upcoming flights will not receive direct refunds, though some may claim through credit card providers.
- ▪Spirit Airlines has begun an orderly wind-down of operations after rescue talks with the US government collapsed.
- ▪The airline was seeking a $500 million bailout that would have given the US government up to 90% ownership.
- ▪Surging jet fuel costs, which doubled after military strikes in February, were described as the final factor pushing Spirit over the brink.
- ▪Spirit's customer service is no longer available, and all future flights have been cancelled.
- ▪Transportation Secretary Sean Duffy opposed the bailout, calling it 'good money after bad.'
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Spirit Airlines shutting down after rescue talks collapseJust nowShareSaveAdd as preferred on GoogleArchie MitchellBusiness reporterGetty ImagesSpirit Airlines is shutting down as a business after failing to secure a $500m (£368m) bailout from the Trump administration.The budget airline was in talks with the US government about a rescue deal which would have saved it from collapse.But discussions collapsed and the carrier said in an announcement on its website on Saturday that with "great disappointment" the airline had "started an orderly wind-down of our operations, effective immediately".Spirit was emerging from its second bankruptcy filing in recent years before the US-Israel war in Iran, but the resulting surge in jet fuel costs pushed it over the brink.All upcoming flights with…
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