India, May 3 -- Spirit Airlines, the ultra-low-cost carrier known for offering some of the cheapest airfares in exchange for limited onboard services, has announced it is shutting down operations after 34 years in business.

The airline said it was unable to cope with surging fuel costs linked to the ongoing tensions in the Middle East, which significantly strained its finances.

Once recognised for its distinctive bright yellow aircraft and multiple daily routes, the airline confirmed that all flights have been cancelled with immediate effect.

"All Spirit flights have been cancelled, and Spirit guests should not go to the airport," the company said in an official statement.

The airline said the wind-down follows extensive attempts to r...