- Discount carrier Spirit Airlines has ceased operations, becoming the first industry casualty linked to the Iran war, after failing to secure creditor support for a U.S. government bailout plan.
- The airline's collapse, following a doubling in jet fuel prices, will result in thousands of job losses and is seen as a setback for President Donald Trump, who had proposed a $500 million rescue package.
- Spirit's board meeting concluded without an agreement, leading the company to announce an "orderly wind-down of operations" and the cancellation of all flights, advising passengers not to go to airports.
- The airline, which once accounted for 5% of U.S. flights, was already struggling before the fuel price shock, as demand for its budget model waned post-pandemic.
- Rival carriers such as JetBlue Airways and Frontier Airlines are expected to benefit from Spirit's shutdown, with several major U.S. airlines offering rescue fares and increased capacity for affected passengers.
IN FULL
