Spirit Airlines Begins Dismantling After Largest U.S. Airline Collapse in Generation
Spirit Airlines has initiated the monthslong process of dismantling the company following its collapse, which stranded tens of thousands of customers. The airline filed a $217 million wind-down budget, with significant costs for employee and aircraft expenses, and most of its fleet was leased. The collapse was driven by heavy debt and rising fuel costs.
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Topics: airline collapse bankruptcy debt government bailout jet fuel costs Spirit Airlines