05/02/2026
In the News…..Spirit Airlines has officially closed its doors overnight after 34 years of operation, leaving a significant impact on the travel industry. Known for its ultra-low fares and distinctive bright yellow planes, the budget carrier had faced financial challenges since the pandemic, accumulating losses exceeding $2.5 billion since 2020 and filing for bankruptcy twice. Despite efforts for a last-minute government bailout, the plan fell through, and rising jet fuel prices, exacerbated by the conflict in Iran, proved to be the final straw. With the cancellation of all 9,000 scheduled flights and 17,000 employees now out of work, this marks the first major US airline shutdown since 9/11. As a result, travelers should brace for an increase in airfares across the board.