Submission + - Spirit Airlines Goes Out Of Business (nbcnews.com)
From a statement released by Spirit Airlines: "The wind-down follows the Company’s extensive and comprehensive efforts to restructure the business and pursue transactions to strengthen Spirit’s financial position and create a sustainable path forward. Unfortunately, despite the Company’s efforts, the recent material increase in oil prices and other pressures on the business have significantly impacted Spirit’s financial outlook. With no additional funding available to the Company, Spirit had no choice but to begin this wind-down."
This is the first US based airline in 25 years to go out of business rather than being absorbed by another carrier.