Spirit Airlines winds down after failed bailout

Spirit Airlines announced an immediate wind-down and the cancellation of all flights after its bailout attempt fell through, leaving about 17,000 employees affected. Card purchases will be refunded automatically, while travelers booked via agents should contact those agents for refunds; refunds for vouchers, credits, or Free Spirit points will be determined in bankruptcy. The Trump administration had considered emergency financing, and other carriers offered assistance to affected customers. The collapse is likely to push fares higher in markets Spirit served due to reduced competition, amidst ongoing high jet-fuel costs, while remaining assets are expected to be sold in bankruptcy proceedings.