Low-price carrier Spirit Airlines said on Saturday that all of its flights have been cancelled as it started an "orderly wind-down of operations" after a potential White House bailout fell through.
Spirit Airlines' parent company, Spirit Aviation Holdings, said in an early Saturday press release that it has "started an orderly wind-down of operations, effective immediately."
"All Spirit flights have been cancelled, and Spirit Guests should not go to the airport," said the company, which had put pressure on larger airlines with its no-frills offerings launched over 30 years ago.
The company's webpage displayed a message telling guests that "customer service is no longer available." The airline said it will process refunds for purchased flights.
Spirit's President and CEO Dave Davis said the company in March "reached an agreement with our bondholders on a restructuring plan that would have allowed us to emerge as a go-forward business."
But skyrocketing jet fuel prices since the start of the Iran war "left us with no alternative but to pursue an orderly wind-down of the Company," Davis said in the press release.
Recent reports claim the airline was recently trying to negotiate with President Donald Trump's administration for a loan of up to $500 million, which would also have granted the administration the power to purchase ownership stakes in the company.
President Trump had previously expressed interest in organizing a package to save thousands of jobs at the carrier, which filed for bankruptcy twice in 2025, but the talks ultimately fell through.