Spirit Airlines, a Florida-based airline that expanded rapidly throughout the 2010s, has shut down and began the liquidation process early Saturday morning. The airline, which filed for Chapter 11 bankruptcy in 2025, had been seeking a $500 million bailout from President Donald Trump's administration, but the terms of the proposed $500m bailout were deemed "untenable" to Spirit's bondholders due to concerns about the potential for a 90 percent stake in the company. The company was set to run out of operating cash within days and had been expected to file for Chapter 7 bankruptcy, which would effectively liquidate the company's assets, rather than simply reorganizing it. Spirit's last flight from Detroit to Dallas-Fort Worth landed at 12:17 a.m. Eastern, and the airline's X account also announced that it was shutting down for good. The immediate cause of Spirit's demise was the shock of higher gas prices due to the Iran conflict.