Spirit Airlines Shuts Down Overnight, Stranding Thousands
Spirit Airlines abruptly ceased operations over the weekend, leaving thousands of travelers stranded as other carriers offered rescue fares and the government coordinated relief efforts. A proposed $500 million rescue deal in exchange for a stake fell through, marking the first major U.S. airline collapse tied to financial distress in about a quarter-century. The shutdown followed a surge in jet fuel costs linked to tensions around the Strait of Hormuz, and bailout talks drew political fire from some lawmakers who warned against taxpayer-backed rescues.