Spirit Airlines’ emergence out of its second bankruptcy in as many years is under pressure as jet fuel prices soar.
On Feb. 24, just days before the war in Iran began, Spirit announced that it expected to exit Chapter 11 bankruptcy in the late spring or early summer, after striking a deal with its lenders and secured creditors. Since then, the war has severely limited tanker traffic in the Strait of Hormuz, spiking oil and jet fuel prices, which has reverberated through the airline industry and, rumor has it, jeopardizing Spirit’s tenuous finances.
The situation has gotten so dire that the airline has asked the Trump administration for hundreds of millions of dollars in emergency funding, The Air Current reported.
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