Spirit Faces Liquidation

Spirit Airlines could begin liquidation as early as this week as it emerges from its second bankruptcy in less than a year, now facing higher fuel costs on top of existing financial pressures. Spirit's decline followed rising costs, shifting demand, a Pratt & Whitney engine recall that grounded aircraft in 2023, and a blocked merger with JetBlue. The airline reported a nearly $257M loss after exiting its first Chapter 11 before filing again weeks later.