U.S. based low-cost carrier Spirit Airlines is preparing for a possible shutdown following the collapse of a proposed rescue deal, according to reports from The Wall Street Journal and CBS News.
The airline has not officially ceased operations but is under severe financial strain, with sources indicating plans to halt operations as early as Saturday unless a last-minute solution emerges.
Negotiations over a $500 million government aid package have stalled after bondholders rejected the proposed terms. Officials have reportedly been informed that no immediate bailout intervention is expected, raising the likelihood of a shutdown within the next 24 hours.
