Spirit Airlines is ending its operations after two bankruptcies and a failed attempt to secure a government bailout. The airline, which offered cheap flights to America's budget travelers, announced it will immediately wind down. Passengers who booked flights with credit cards or debit cards will automatically receive refunds. However, any compensation will be determined at a later date through the bankruptcy process. The company's demise has reignited debate over the administration's decision to block a merger with JetBlue, which the administration claimed was anti-competitive. Spirit's remaining assets are likely to be sold as part of its unwinding.