{
    "success": true,
    "data": {
        "id": 1764937,
        "msgid": "us-budget-airline-spirit-airlines-goes-bankrupt-amid-rising-jet-fuel-prices-and-falling-holiday-demand-1780136747",
        "date": "2026-05-26 06:50:31",
        "title": "US Budget Airline Spirit Airlines Goes Bankrupt Amid Rising Jet Fuel Prices and Falling Holiday Demand",
        "author": "Aprillia Ika",
        "source": "KOMPAS",
        "tags": "",
        "topic": "Business",
        "summary": "Spirit Airlines has ceased operations following repeated bankruptcy crises, citing soaring jet fuel prices and declining holiday travel demand. The US-Israel conflict with Iran has disrupted major shipping routes, causing jet fuel prices to double in three months and forcing airlines to pass costs to customers. This is expected to make summer travel more expensive despite sustained demand.",
        "content": "<p>Rising fuel prices are pressuring various tourism sectors and\ndampening US public interest in summer travel by both air and private\nvehicle.<\/p>\n<p>Citing CNBC, flight ticket prices are now at their highest since May\n2022, when airlines recovered from the Covid-19 pandemic. At that time,\ndespite challenges such as limited fleets and workforce shortages,\ntravel demand surged due to \u2018revenge travel\u2019 trends.<\/p>\n<p>According to data from the American Automobile Association (AAA), US\ngasoline prices have exceeded $4 per gallon and could approach $5 per\ngallon this summer.<\/p>\n<p>Jet fuel prices have doubled in less than three months following US\nand Israeli strikes on Iran, which sparked a conflict effectively\nclosing a major global shipping route.<\/p>\n<p>Jet fuel is the second-largest cost component for airlines after\nlabour. Several carriers are now passing these increased costs onto\ncustomers.<\/p>\n<p>Airlines are also scaling back expansion plans due to high fuel\nprices. While not all routes have been suspended, reduced flight\nfrequencies have limited seat availability.<\/p>\n<p>Thus, despite sustained high demand, this situation is likely to\ndrive ticket prices even higher. US low-cost carrier Spirit Airlines\nofficially ceased operations earlier this month, blaming high jet fuel\ncosts as a key factor in its failure to recover from repeated bankruptcy\ncrises.<\/p>\n<p>The surge in fuel prices is expected to make summer travel costs more\nexpensive this year, for both flight tickets and vehicle fuel.<\/p>\n<p>The Memorial Day holiday in the US also illustrates how willing\npeople are to spend on travel despite rising costs of other essentials\nlike food and clothing.<\/p>\n<p>The Transportation Security Administration (TSA) forecasts 18.3\nmillion air passengers this week, slightly lower than the 18.5 million\nrecorded during the same period last year.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/us-budget-airline-spirit-airlines-goes-bankrupt-amid-rising-jet-fuel-prices-and-falling-holiday-demand-1780136747",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}