Articles tagged “bankruptcy”

JetBlue’s winning bid comes in well below Spirit's $86.7 million valuation of its LaGuardia slots.

Although Spirit was a small airline, it had a sizable impact on airfares across major markets in the U.S. Now that it has shut down, industry experts say to expect more airfare increases compounded by high fuel costs.

Spirit said it explored every possible option to stay in business, but it was left with no other choice to liquidate because it did not have a sufficient amount of cash.

Spirit’s planes and slots will soon be up for sale and slots at places like Fort Lauderdale and LaGuardia could see high demand.

Spirit, once one of the most profitable airlines, never recovered from the pandemic and the shift to premium travel. Rival low-cost airlines are trying to take advantage — but they have their own problems.

The possible shutdown comes as negotiations over a bailout from the Trump administration have hit an impasse.

JetBlue executives are continuing to push their growth plans, but aren’t shy about admitting that it’s a tough operating environment.

As the terms of a bailout for Spirit are being finalized, President Donald Trump said on Thursday he was interested in the U.S. buying the airline and selling it for a profit once oil prices drop.

Spirit's collapse didn't happen overnight: A blocked merger, two bankruptcies, a bailout that never came. Four years of mounting problems, and in the end, it was fuel prices that sealed it.

The Trump administration is nearing a deal to bail out Spirit, which would provide the embattled ultra-low-cost carrier a lifeline after facing the possibility of liquidation.