Spirit Airlines built its brand on a simple business model: give up the frills, pay less, get there. Now the Trump administration may test whether that model still works in America. In Europe, you can fly Ryanair or EasyJet almost anywhere for €10 to €20 (plus luggage fees) and Ryanair expects to be profitable and nearly debt-free this year, while EasyJet beat annual profit expectations in 2025 and remains a FTSE 100 company.
Spirit is in advanced talks with the federal government over financing to help it restructure and exit bankruptcy, with a potential $500 million in government-backed financing deal on the table, giving the U.S. a possible stake of up to 90% in the company. Spirit’s lawyer told bankruptcy court the airline needs new financing or access to $240 million by the end of next week, warning liquidation could eliminate more than 14,000 jobs.
