Spirit Airlines shuts down, crushed by price of Iran war jet fuel

Spirit Airlines is shutting down with immediate effect in a move that will affect thousands of scheduled flights and nearly as many employees.The troubled budget carrier canceled all flights and announced an “orderly wind-down” of operations early Saturday.“To our Guests: all flights have been cancelled, and customer service is no longer available,” the company said in a statement.Spirit, which has struggled to maintain consistent profitability since the Covid-19 pandemic, had been looking to emerge from its second bankruptcy in less than a year. But those plans were derailed amid soaring jet fuel costs sparked by the outbreak of the war with Iran.Spirit Airlines aircraft in Las Vegas last year. While it only ever carried a small slice of the flying public, Spirit's profitability was, at one point, among the top three of major U.S. airlines.Kevin Carter / Getty Images file“Despite the Company’s efforts, the recent material increase in oil prices and other pressures on the business have significantly impacted Spirit’s financial outlook,” the company’s statement said. “With no additional funding available to the company, Spirit had no choice but to begin this wind-down.”Last month, Spirit approached the White House for financial assistance, and President Donald Trump initially appeared receptive. But