Good morning. After 34 years in operation, Spirit Airlines is shutting down. Its parent company, Spirit Aviation Holdings, announced Saturday that it had begun an orderly wind-down and canceled all flights.
The company said the decision followed unsuccessful efforts to restructure the business, raise capital, and pursue transactions that could strengthen its financial position. It cited a “material increase in oil prices” and other business pressures that weakened its outlook, adding that “with no additional funding available,” Spirit had no choice but to begin the wind-down. A possible Trump administration-led rescue deal was not reached.
