"If Spirit Airlines goes out of business, your tickets with the carrier would become worthless. That's the risk hanging over the ultra-low-cost carrier as it searches for a buyer but has yet to secure a deal."
"A merger or acquisition can mean that tickets are honored or rebooked onto the new airline, as seen in deals such as American Airlines and US Airways, United and Continental, and Alaska Airlines and Hawaiian."
"A full collapse is what Spirit is reportedly facing, and that usually means bookings are voided immediately. Spirit's operations would likely come to a complete halt, and there would be few resources for customers."
"Spirit's Chapter 11 bankruptcy status also means it may refuse refunds. Customers may be able to recoup the ticket cost through a credit card chargeback."
Spirit Airlines is at risk of going out of business, which would render tickets worthless. The airline has struggled to achieve profitability due to changing traveler habits and rising costs. A merger or acquisition could allow tickets to be honored, but a full collapse would void bookings immediately. Customers would face challenges in rebooking or finding alternative transportation. Spirit's Chapter 11 bankruptcy may also prevent refunds, although chargebacks could be an option for some customers. Recent fluctuations in oil prices may provide temporary relief.
Read at www.businessinsider.com
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