Spirit Airlines has struggled financially since the pandemic began. However, rising energy prices connected to the war in Iran have put it, like its competitors, in an even more vulnerable position.
A message on the company's website now says that all flights are canceled and that booked passengers should not go to the airports.
Spirit Airlines was founded in 1983, then under the name Charter One Airlines. In addition to domestic routes, it has also flown to destinations in Latin America and the Caribbean. With a low-cost model similar to Ryanair, it has lowered fares while charging extra for items such as baggage and onboard food and drinks.
Just over ten years ago, the company was valued at $6 billion, but it came under financial pressure during the pandemic. That culminated in a Chapter 11 filing in November 2024 and a financial restructuring, making it the first U.S. airline to undergo such a process since 2011.
Last month, the White House was in contact with the airline about about $500 million in assistance. Trump recently said to reporters, "If we can do it, we will do it, if it's a good deal," regarding a purchase of Spirit Airlines.
In a statement, Spirit Airlines now says it will begin winding down operations from 9 p.m. Saturday local time in Sweden.
