Spirit Airlines had a 34-year run that came to an end this month after the company declared bankruptcy. They shut down all operations and are now in the process of selling off their assets, including their planes.
Major airline crashes into bankruptcy after 34 years – selling its planes | World | News– www.express.co.uk
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A major airline is set to sell its planes after it crashed into bankruptcy after 34 years in business. As well as cancelling all flights, it has been confirmed the company will also sell its spare engines and parts.
Spirit Airlines confirmed on Saturday (May 2) that it will shut down after failing to secure a $500 million (£368 million) rescue deal from the Donald Trump administration. The low-cost airline was emerging from a previous bankruptcy filing, but the recent surge in jet fuel costs, as a result of the ongoing war in Iran, reportedly pushed it over the brink.
Spirit had planned to exit bankruptcy by the summer after striking a deal with creditors to shed billions in debt. However, its financial position has been weakened due to the increase in fuel costs.
The airline ceased operations at around 3am on Saturday when none of its planes were in the air and crew members were away from their bases. However, some passengers still arrived at the airport in the morning after not receiving messages about the cancellations.
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