New Delhi, May 2 -- Spirit Airlines announced on Saturday that it has cancelled all flights as it begins an "orderly wind-down of operations," citing a sharp rise in fuel prices in recent weeks that left it with no alternative. The struggling airline, which had been preparing to exit its second bankruptcy within a year, said it would shut down operations after a potential bailout from the White House did not materialise.

For customers, the airline mentioned it would automatically issue refunds for any flights purchased with a credit or debit card, returning the amount to the original mode of payment.

"It is with great disappointment that Spirit Airlines has started winding down its global operations, effective immediately. All flights h...