Spirit Airlines begins ‘wind-down’, cancels all flights over fuel crisis

Spirit Airlines has started an orderly wind-down of operations, cancelling all its flights. The airline's collapse is due to a doubling in jet fuel prices during the Iran war, which will cost thousands of jobs. Spirit had reached a deal with its lenders to emerge from its second bankruptcy, but plans derailed after the US war on Iran triggered a spike in jet fuel prices. The airline's financial outlook has been significantly impacted by the recent material increase in oil prices and other pressures on the business.