Spirit Airlines shuts down leaving 17000 jobs at risk after fuel shock and cash crunch

Jet fuel jumped nearly 70 percent—Spirit ran out of options

Spirit Airlines has ceased all operations after running out of funding, grounding its aircraft and leaving passengers stranded while refunds are processed. The shutdown puts about 17,000 jobs at risk and follows years of bankruptcies and financial setbacks. Executives blamed spiraling operational costs, with jet fuel rising sharply since the US-Iran tensions, hitting low-cost carriers hardest.