Spirit Airlines went bankrupt for good, and flyers will pay

Spirit Airlines went bankrupt for good, and flyers will pay as the low-cost carrier closed operations and entered liquidation after its Chapter 11 case. The article notes Spirit had challenged full-price airlines with its no-frills, a la carte model, and it estimates that when Spirit started serving a route average fares fell by 17%, while another estimate suggested fares could rise by 30% when it stopped. Following bankruptcy filing in New York’s Southern Bankruptcy Court, the airline grounded its fleet, laid off staff, and began liquidation, with no buyer stepping forward initially. Texas-based Mooney International later submitted a bid to acquire Spirit Airlines and related assets, combining operations involving Spirit, Mooney International, and SEAir under affordable air travel. The court would need to rule on the offer. The article also cites that Spirit had 114 Airbus A320 aircraft, 66 leased, and that repossession began once the airline shut down.