pakistan
American ‘Spirit Airlines’ to shut down amid Iran war fuel spike
Key takeaways
- Add ARY News on Google WASHINGTON: Bankrupt discount carrier Spirit Airlines is preparing to cease operations around 3 a.m.
- A Spirit board meeting ended without an agreement to rescue the company, one of the people said.
- The collapse of Spirit will result in thousands of lost jobs and marks the first airline to fail in part due to a doubling in jet fuel prices during the two-month-old Iran war.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google WASHINGTON: Bankrupt discount carrier Spirit Airlines is preparing to cease operations around 3 a.m. (0700 GMT) on Saturday, two people close to the discussions told Reuters late on Friday.
A Spirit board meeting ended without an agreement to rescue the company, one of the people said.
The collapse of Spirit will result in thousands of lost jobs and marks the first airline to fail in part due to a doubling in jet fuel prices during the two-month-old Iran war. It is a blow to President Donald Trump, who had proposed $500 million to save Spirit despite opposition from some of his closest advisers and many Republicans in Congress.
Article preview — originally published by ARY News. Full story at the source.
Read full story on ARY News →
More top stories
Also covered by
CNBC
Spirit Airlines could shut down overnight. Here's what travelers need to know
LA Times
Spirit Airlines prepares to shut down without a government bailout
The Hill
Spirit Airlines preparing to shut down if bailout deal isn't reached: Reports
Hacker News
Spirit Airlines Is Winding Down All Operations
Aggregated and edited by the Scoop newsroom. We surface news from ARY News alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop