Spirit Airlines Liquidation Risk

The airline's survival was based on the assumption that fuel prices would remain stable, a premise shattered by the energy crisis sparked by the war in Iran.

Panicked passengers have expressed fear of being left stranded at airports as the company's future remains uncertain.

Spirit has already gone through two bankruptcies in the past year following a failed merger with JetBlue.

The potential collapse of the low-cost giant would represent a major disruption to the American aviation industry.