JOURNAL ARTICLE

Spirit Airlines' shutdown is a case study in what happens when a turnaround plan breaks.

  • Published In: Fortune.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Estrada, Sheryl 3 of 3

Abstract

The article focuses on the shutdown of Spirit Airlines after 34 years, following its parent company Spirit Aviation Holdings' decision to begin an orderly wind-down and cancel all flights. The closure resulted from unsuccessful attempts to restructure, raise capital, and complete transactions amid rising jet fuel prices and other business pressures, including a failed merger and a blocked acquisition by JetBlue. Spirit's ultra-low-cost, no-frills business model struggled post-COVID-19, compounded by a reputation for mediocre customer service and volatile fuel costs that undermined its restructuring plans. The airline filed for bankruptcy twice between 2024 and 2025 before ultimately ceasing operations. [Extracted from the article]

Additional Information

  • Source:Fortune.com. 2026/05, pN.PAG
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2026
  • Accession Number:193503287
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