South Florida-based Spirit Airlines will cease all operations today, following extensive efforts to restructure the business. Locally, all flights in and out of Tampa International Airport and St. Petersburg-Clearwater International Airport have been canceled.<\/p>\n
\u201cDespite the Company\u2019s efforts, the recent material increase in oil prices and other pressures on the business have significantly impacted Spirit\u2019s financial outlook,\u201d officials said in today\u2019s announcement. \u201cWith no additional funding available to the Company, Spirit had no choice but to begin this wind-down.\u201d<\/p>\n
Mounting pressure from competitors offering similar no-frills, low-cost flights caused Spirit to file for Chapter 11 bankruptcy status in 2024 and again in 2025.<\/p>\n
The airline ceases operations with $2.4 billion in long-term debt.<\/p>\n
\u201cSustaining the business required hundreds of millions of additional dollars of liquidity that Spirit simply does not have and could not procure,\u201d President and CEO said in today\u2019s prepared statement. \u201cThis is tremendously disappointing and not the outcome any of us wanted.\u201d<\/p>\n
The airline had hoped for a $500 million federal bailout, which did not materialize.<\/p>\n
Spirit will automatically process refunds for flights purchased directly through the airline with a credit or debit card. Refunds for flights booked through a travel agent are available through the agent.<\/p>\n
Compensation for guests who booked flights using any other methods, including a voucher, credit or Free Spirit points, \u201cwill be determined at a later date through the bankruptcy process,\u201d according to today\u2019s statement.<\/p>\n