Spirit Airlines says it has nearly finished refunding customers after shuttering
Summary
Spirit Airlines stopped operating after years of financial trouble and a recent jump in fuel costs caused by the US-Israeli conflict with Iran. The airline has nearly finished refunding customers for canceled flights and is now going through a formal process to close down.Key Facts
- Spirit Airlines canceled thousands of flights and stopped flying over the weekend.
- The airline had about 4,000 flights planned through May 15 before shutting down.
- Spirit has not made a profit since 2019 and previously filed for bankruptcy twice.
- Rising fuel prices from the US-Israeli conflict with Iran worsened Spirit’s financial problems.
- The company said no extra funding was available, forcing it to wind down operations.
- The US Transportation Secretary blamed the Biden administration for blocking a Spirit-JetBlue merger.
- The blocked merger is said to have prevented a solution that might have kept Spirit running.
- Democratic Senator Elizabeth Warren said the merger was stopped because a judge found it illegal.
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