Spirit Aviation Holdings, the parent company of Spirit Airlines (Spirit), has commenced an orderly wind-down of its operations with immediate effect. All Spirit flights have been cancelled, and passengers are advised not to travel to the airport.
The wind-down follows the Company’s extensive efforts to restructure the business and pursue transactions intended to strengthen Spirit’s financial position and secure a sustainable path forward. However, despite these measures, the recent sharp increase in oil prices, together with other pressures on the business, has significantly weakened Spirit’s financial outlook. With no further funding available, the Company has had no option but to proceed with this wind-down.
“For more than 30 years, Spirit Airlines has played a pioneering role in making travel more accessible and bringing people together while driving affordability across the industry,” commented Dave Davis, Spirit’s President and Chief Executive Officer. “In March 2026, we reached an agreement with our bondholders on a restructuring plan that would have allowed us to emerge as a go-forward business. However, the sudden and sustained rise in fuel prices in recent weeks ultimately has left us with no alternative but to pursue an orderly wind-down of the Company. Sustaining the business required hundreds of millions of additional dollars of liquidity that Spirit simply does not have and could not procure. This is tremendously disappointing and not the outcome any of us wanted.”
“I want to thank the Administration, in particular Secretary Howard Lutnick and the U.S. Department of Commerce, for their extraordinary efforts to try to preserve jobs and service across the country, along with the U.S. Department of Transportation for their assistance to minimize the disruption to our Guests in the days and weeks ahead,” Davis continued. “Many stakeholders have stepped up for Spirit through our restructuring. We are grateful to our labor union partners, aircraft lessors, other business partners and our financial stakeholders including Citadel, Cyrus Capital and Ares Management Corp, for working with us on tangible solutions to restructure our business.”
Spirit will automatically issue refunds for any flights purchased directly with a credit or debit card to the original method of payment.
