Spirit Airlines has been grounded, canceling thousands of flights overnight

Spirit:

The closing follows the Company’s efforts to restructure the business and take steps to strengthen Spirit’s financial position and create a path forward. Unfortunately, despite the company’s best efforts, the recent rise in oil prices and other business challenges have had a significant impact on Spirit’s financial outlook. With no additional funds available to the Company, Spirit had no choice but to start from scratch.

“For more than 30 years, Spirit Airlines has pioneered ways to simplify travel and bring people together while driving business,” said Dave Davis, Spirit’s President and Chief Executive Officer. “In March 2026, we agreed with our bondholders on a restructuring plan that would have made us a going concern. However, the sudden and sustained increase in oil prices in recent weeks has left us with no choice but to liquidate the company in an orderly manner. Disappointing and not the outcome any of us wanted.”