Spirit Airlines Liquidates—First Major U.S. Carrier Shutdown in 25 Years

Spirit Airlines ceased all flight operations on May 2 and entered liquidation proceedings, marking the first shutdown of a major U.S. carrier in 25 years. The failure of a $500 million emergency assistance request to the White House, compounded by additional liquidity pressures from the Iran-war driven oil price surge, proved decisive. The liquidation impacts approximately 17,000 workers, including 14,000 Spirit employees.