Spirit Airlines Bailout Plea

Spirit executives are scheduled to meet with Transportation Secretary Sean Duffy next week to discuss a rescue plan.

The airline was expected to emerge from its second bankruptcy this summer, but the energy shock has made its recovery nearly impossible.

If a deal is not reached, thousands of travelers could be left with worthless tickets.

Other budget airlines are facing similar pressures, leading to calls for a wholesale reinvention of the industry's financial model.