The string of airline bankruptcies that began following the U.S. strike on Iran and subsequent spike in jet prices is not over yet.
The most prominent collapse occurred at the start of May when well-known low-cost airline Spirit Airlines canceled all of its flights and shut down for good. This was despite much industry hope for a last-minute Hail Mary, given the carrier’s two past bankruptcies and its well-known brand.
Low-cost holiday carrier Magnicharters also filed for bankruptcy protection in Mexico City last month after suspending all flights for what was initially supposed to be a temporary period of two weeks in April.
Other global aviation names that recently either filed for bankruptcy protection or shut down…