Low-cost carrier Spirit Airlines shut down operations on Saturday (May 2) after aviation fuel prices doubled during the Iran war. The company canceled all flights and failed to secure creditor support for a $500 million rescue plan proposed by the Trump administration.
Spirit Airlines was a low-cost airline that accounted for 5% of US flights and helped keep fares lower in markets where it competed. Aviation fuel prices doubled due to attacks on Iran that disrupted traffic through the Strait of Hormuz, creating the worst crisis for the aviation sector since the Covid-19 pandemic.
Spirit Airlines shut down operations on Saturday, May 2, 2026
Aviation fuel prices doubled during the Iran war
Covered by only some sources, or where the accounts diverge.
No gaps or divergences found — sources converge.
No gaps declared — all sources converge on the material facts.