Spirit Airlines has announced an immediate shutdown of operations after failing to secure a $500 million bailout, cancelling all flights and leaving passengers stranded. The airline said it has begun an “orderly wind-down,” with customer services also halted and refunds not guaranteed. Travellers are being advised to seek chargebacks through their banks. The collapse comes after mounting financial pressure, including rising jet fuel costs linked to the ongoing Iran conflict, which significantly increased operating expenses for airlines.