Spirit Airlines begins dismantling process

Spirit Airlines has returned to bankruptcy court to begin the formal process of dismantling the carrier after its sudden shutdown over the weekend.

The collapse has stranded thousands of passengers and left 17,000 employees facing an uncertain future.

Industry analysts point to soaring jet fuel prices and a failed merger attempt as key factors in the airline's demise.

Several aircraft lessors, including those based in Ireland, are now scrambling to recover assets from the defunct low-cost carrier.