The bright yellow planes are grounded. Now the selloff begins.
Spirit Airlines, which abruptly canceled all its future flights over the weekend, secured court approval Tuesday to begin dismantling the once-busy budget carrier and to convert its parts into cash for creditors.
U.S. Bankruptcy Judge Sean Lane authorized the airline’s plan for a rapid wind down of its remaining business activities, clearing the way for Spirit to move forward with liquidation.
“Today is a very challenging day. It’s not a day that anybody hoped would ever come,”…