Spirit Airlines Shuts Down

Spirit Airlines, the largest ultra-low-cost carrier in the U.S., said it would start winding down operations early Saturday morning, following its second round of Chapter 11 bankruptcy and failed bailout talks with the Trump administration. 

The company said in a statement that high fuel prices had significantly impacted Spirit's financial outlook and without any additional funding, it had no choice but to shut down.

"The sudden and sustained rise in fuel prices in recent weeks ultimately has left us with noalternative but to pursue an orderly wind-down of the Company," said Spirit CEO Dave Davis in a statement. "Sustaining the business required hundreds of millions of additional dollars of liquidity that Spirit simply does not have and could not procure. This is tremendously disappointing and not the outcome any of us wanted.”

The carrier's website reads "Spirit Is Winding Down All Operations" and advised customers not to go to the airport.