""For more than 30 years, Spirit Airlines has played a pioneering role in making travel more accessible and bringing people together while driving affordability across the industry," Spirit CEO Dave Davis said in a statement."
""However, the sudden and sustained rise in fuel prices in recent weeks ultimately has left us with no alternative but to pursue an orderly wind-down of the Company. Sustaining the business required hundreds of millions of additional dollars of liquidity that Spirit simply does not have and could not procure.""
""Southwest Airlines announced early Saturday that it will provide special fares at Southwest ticket counters at the departure airport for affected Spirit ticketholders: $200 for flights of 1 to 500 miles, $300 for 501 to 1,000 miles and $400 for 1,000+ miles.""
Spirit Airlines announced it will wind down operations due to rising fuel prices and lack of liquidity. Passengers who booked with credit cards will receive automatic refunds, while those who used travel agents must contact them directly. Compensation for flights purchased with vouchers or points will be determined later through bankruptcy proceedings. Major airlines like United, American, and Southwest are offering assistance to affected customers. The closure is expected to increase ticket prices in an already challenging travel market.
Read at Axios
Unable to calculate read time
Collection
[
|
...
]