Major airlines and the US government scrambled to help stranded passengers and employees after bankrupt discount carrier Spirit Airlines ceased operations on Saturday the industry’s first casualty linked to the Iran war.
The collapse overnight of the carrier following a doubling in jet fuel prices during the two-month-old Iran war will cost thousands of jobs.
It is a blow to President Donald Trump, who had proposed US$500 million to save Spirit despite opposition from some of his closest advisers and many Republicans in Congress.
Spirit’s demise highlights the unintended consequences of the US-Israel war against Iran, despite an uneasy ceasefire.
While Spirit was already struggling to turn a profit before the fuel shock, global carriers are contending with surging jet fuel prices as Iran continues to halt nearly all traffic through the Strait of Hormuz and the US Navy blockades Iranian ports.
US Transportation Secretary Sean Duffy told a news conference that creditors had rejected the deal despite intense efforts by the Trump administration to keep Spirit alive.<\/p>\n","protected":false},"excerpt":{"rendered":"
Major airlines and the US government scrambled to help stranded passengers and employees after bankrupt discount carrier Spirit Airlines ceased operations on Saturday the industry’s first casualty linked to the Iran war.The collapse overnight of the carrier following a doubling in jet fuel prices during the two-month-old Iran war will cost thousands of jobs.It is […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-38589","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n