What happened
Bloomberg reports that Spirit Airlines could liquidate as early as this week, according to people familiar with the matter. The ultra-low-cost carrier is currently in Chapter 11 bankruptcy (its second in a few years) and had previously stated plans to emerge by early summer 2026. The shift in narrative is attributed to a massive spike in oil prices and a turnaround strategy of shrinking into profitability, which may not hold up against high fuel costs. Liquidation would be a significant event for the US airline industry, potentially impacting JetBlue in overlapping markets