The US low-cost carrier Spirit Airlines has announced that it has suspended all flights and begun an “orderly wind-down of operations” following the collapse of a potential White House bailout.
In a statement, Spirit Aviation Holdings, Inc., the parent company of Spirit Airlines, said the decision takes effect immediately.
“The Company has started an orderly wind-down of operations, effective immediately. All Spirit flights have been cancelled and Spirit Guests should not go to the airport,” the airline said in the early hours of Saturday.
According to Al Jazeera, the airline said financial pressure had intensified following a sharp rise in jet fuel prices in recent months, making continued operations unsustainable.
Reports indicate that the increase in global oil prices, particularly amid recent geopolitical tensions and conflict, significantly raised operating costs and undermined the airline’s financial stability.
The suspension is expected to affect thousands of jobs and have broader implications for the aviation sector.
Officials said efforts to secure a rescue package were unsuccessful, with no immediate solution found to keep the airline operating.
The source added that experts warn rising fuel costs could pose similar challenges for other airlines.
According to data from Cirium, Spirit had 4,119 domestic flights scheduled between May 1 and May 15, offering 809,638 seats.
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