Spirit Airlines facing liquidation

The airline's financial woes have been exacerbated by the Iran war, which has sent jet fuel prices to historic highs.

Spirit had previously survived two bankruptcy filings in 2025 based on the assumption of stable energy prices.

However, the effective closure of the Strait of Hormuz has rendered its business model unsustainable.

The potential collapse of the airline would significantly impact the U.S. domestic travel market and lead to widespread flight cancellations during the peak summer season.