American airline Spirit Airlines cancels all flights due to oil prices

The US airline Spirit Airlines has announced the complete cancellation of its flights and the suspension of operations, stating that ticket refunds will be issued automatically.

This is stated on the company’s website, according to DW and the Financial Times.

The company attributed the decision to rising global oil and fuel prices, which have significantly impacted its financial situation.

"Unfortunately, despite the Company’s efforts, the recent material increase in oil prices and other
pressures on the business have significantly impacted Spirit’s financial outlook. With no additional
funding available to the Company, Spirit had no choice but to begin this wind-down," the statement noted.

Spirit Airlines employed over 17,000 people.

The company suffered significant losses during the coronavirus pandemic and was already on the brink of bankruptcy by 2024. At that time, it sought support from the US government and reduced its flight operations due to falling demand.

The carrier’s debt exceeded USD 3 billion, and against this backdrop, the company was required to either agree to a deal with the US government or fully repay its debts.

US President Donald Trump stated that Washington was considering investing approximately USD 500 million in Spirit Airlines in exchange for a stake in the company.

"We're thinking about doing it, helping them out, meaning bailing them out, or buying it. I think we'd just buy it," he said.

As a reminder, retail fuel prices at Ukrainian gas stations have dropped by UAH 0.01–1.82.