"Spirit Airlines is preparing to cease operations after the beleaguered company ran out of cash and a rescue attempt by the Trump administration appeared to stall."
"The company struggled to make a deal with its creditors and secure funding to maintain operations, according to a Wall Street Journal report citing people familiar with the matter."
"If Spirit ends up in liquidation, it will be the first major US carrier to liquidate since the 2008 recession."
"A group of other budget carriers, including Frontier and Avelo, reportedly pitched a $2.5bn bailout to the Trump administration last week, arguing they have been disproportionately affected by higher fuel prices."
Spirit Airlines is preparing to cease operations after running out of cash and struggling to secure funding. A potential $500 million loan from the federal government was discussed, but efforts to keep the airline afloat stalled. The company has faced challenges with high oil prices and post-pandemic demand. If Spirit liquidates, it will be the first major US carrier to do so since the 2008 recession. A blocked merger with JetBlue further complicated its financial situation, impacting competition and customer service.
Read at www.theguardian.com
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