Soul: :
The closing follows the Company’s comprehensive and extensive efforts to restructure the business and pursue a transaction to strengthen Spirit’s financial position and create a sustainable path forward. Unfortunately, despite the Company’s efforts, recent increases in oil prices and other pressures on the business have significantly impacted Spirit’s financial outlook. With no additional funding available to the company, Spirit had no choice but to initiate this closure.
“For more than 30 years, Spirit Airlines has played a leading role in making travel more accessible and bringing people closer together while increasing affordability across the industry,” said Dave Davis, Spirit President and CEO. “In March 2026, we reached an agreement with our bondholders on a restructuring plan that would have allowed us to emerge as a going-forward business. However, the sudden and sustained increase in fuel prices in recent weeks has ultimately left us with no choice but to systematically wind down the company. Maintaining the business requires hundreds of millions of dollars of additional liquidity that Spirit does not have and cannot purchase. This is extremely disappointing. And that’s not the outcome any of us wanted.”
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