Spirit Airlines is reportedly set to cease operations at 3am on Saturday, according to sources cited by the Wall Street Journal. The budget carrier, which began operations in 1990, had been hoping for a $500 million lifeline from the federal government to stave off collapse, but the deal has not been finalized.
Funding Failure
Sources told the outlet that the airline failed to secure sufficient support from bondholders and the government to obtain the necessary funding before running out of cash. This development places over 14,000 jobs at risk and could leave passengers stranded across the nation.
Passengers at Risk
The collapse of Spirit Airlines could dissolve as soon as today, leaving passengers who have already booked tickets stranded at airports around the country. Despite the reported end of its operations, Spirit's website is still allowing customers to book flights before the reported 3am deadline, raising concerns about last-minute bookings.
The situation remains fluid, and travelers are advised to check with the airline for updates and alternative arrangements.
