Spirit Airlines Seeks to Start Orderly Wind-Down to Sell Assets.

The article focuses on Spirit Aviation Holdings Inc.'s decision to initiate an orderly wind-down process to sell its assets after ceasing all passenger operations amid financial distress. The low-cost carrier, based in Dania Beach, Florida, filed for bankruptcy twice in recent years and failed to secure a last-minute U.S. government rescue, with rising fuel costs linked to the Middle East conflict worsening its position. Spirit is seeking to modify a bankruptcy loan to fund asset sales, including aircraft and spare parts, while planning to retain a reduced workforce to manage the wind-down. Previous merger talks with competitors, including Frontier Airlines and JetBlue Airways Corp., were unsuccessful due to various challenges, including antitrust concerns. [Extracted from the article]