Spirit Airlines has ceased operations, driven by the dual pressures of record jet fuel costs stemming from the US-Iran conflict and the failure to secure a $500M federal bailout.
President Trump acknowledged that relief from high gas prices is unlikely before the midterms, a significant admission as the average national price has risen 38% since February. The US naval blockade of the Strait of Hormuz, a primary oil transit chokepoint, remains in effect, adding sustained pressure on operating costs across the aviation sector.
Prediction markets are now pricing a Spirit Airlines liquidation by May 31 at 100% YES, reflecting the certainty of the carrier's financial demise.