The US low-fare Spirit Airlines announced Saturday the commencement of an orderly wind-down of operations, effective immediately, as the carrier became the first major aviation casualty of the economic fallout from the ongoing war with Iran.
The decision followed the collapse of intensive rescue negotiations and a failed USD 500 million federal bailout attempt. In a press statement, Spirit confirmed that its financial outlook was “significantly impacted” by the “material increase in oil prices” triggered by the…
