Spirit Airlines seeks bailout

Spirit was expected to emerge from bankruptcy this summer, but the ongoing energy crisis has pushed the carrier toward liquidation.

Several other major airlines, including Air Canada, have been forced to suspend routes due to the soaring costs.

Industry experts warn that the competitive landscape for U.S. airlines is facing seismic turbulence that could lead to higher fares for travelers.

The White House has yet to indicate whether it will provide the requested bailout for the struggling low-cost carrier.