It’s the American low-cost carrier Spirit Airlines, which could cease to exist within hours. The company has already filed for bankruptcy twice — between November 2024 and August 2025 — and remains under Chapter 11 protection.
Its survival plan relied on stable jet fuel prices and maintaining passenger capacity at around 80%. But after escalating tensions in the Middle East, fuel prices surged, while actual load factors dropped to about 74%.
This sharply worsened its financial performance. The airline’s creditors are now deeply concerned about its future and could decide to liquidate the company at any moment.
If that happens, everything could unfold very quickly — as has been the case with other airlines in the past. Flights could simply disappear from schedules, leaving passengers stranded at airports with no way to get home.
Despite this, the company says it is still operating normally. No specific shutdown date has been announced, which only adds to the uncertainty.
Passengers with booked tickets are being advised to prepare backup plans. Other airlines may offer so-called “rescue fares,” but there’s no guarantee everyone will be able to secure a seat.
The situation is further complicated by competition, as other carriers are rapidly expanding into Spirit’s routes. At the same time, financial forecasts look grim — if fuel prices remain high, losses could reach critical levels.
Back in 2024, the company projected a profit of over $250 million, but by 2025 it reported losses exceeding $250 million in just a few months. This dealt a serious blow to its stability.
Once a highly profitable airline, Spirit never fully recovered after the COVID-19 pandemic. Changing customer preferences, rising costs, and the failed JetBlue merger only made things worse.
Now, thousands of passengers are left in suspense — no one knows whether their flight will depart tomorrow. And the biggest question remains: will this airline even make it to next week?