Spirit Airlines is shutting down operations effective immediately, the airline said in a statement early Saturday, after a White House proposal to bail out the beleaguered budget carrier fell through.
The shuttering follows “extensive and comprehensive efforts to restructure the business,” the airline said, adding that the recent increase in oil prices and other pressures have “significantly impacted” its prospects. “With no additional funding available to the Company, Spirit had no choice but to begin this wind-down,” it said.
