Spirit Airlines shuts down, industry's 1st war casualty
WASHINGTON, May 3 -- Bankrupt discount carrier Spirit Airlines ceased operations on Saturday, the industry's first casualty linked to the Iran war, after failing to secure creditor support for a US government bailout plan. The collapse of the carrier following a doubling in jet fuel prices during the two-month-old Iran war will cost thousands of jobs. It is a blow to President Donald Trump, who had proposed $500 million to save Spirit despite opposition from some of his closest advisers and many Republicans in Congress.
No US carrier of Spirit's size - it accounted for 5% of US flights at one point - has liquidated in two decades. Spirit helped keep fares lower in markets where it competed against major carriers.
A Spirit board meeting had ...
To read the full article or to get the complete feed from this publication, please
Contact Us.