Spirit Airlines will shut down and liquidate its holdings. With 17,000 employees, it was unable to bear the soaring cost of jet fuel during the Iran war.

Spirit Airlines is set to announce in the coming hours that that it will halt flying as of 3 am ET Saturday, according to two sources familiar with its plans, making it the first significant US airline to halt operations in nearly 25 years.

Caught unaware of Spirit Airlines' shutdown, some travelers were stranded at Detroit Metro Airport on Saturday morning.

Talks with bondholders for a government bailout this week failed to yield a deal.

Thousands of Spirit Airlines passengers are facing a chaotic weekend as the budget carrier announced it’s halting all flights as of early Saturday.

Donald Trump says Spirit Airlines was given a final bailout proposal amid reports the carrier plans to shut down.

Flight attendant leader Sara Nelson says that if President Trump really wants to help Spirit Airlines,, "He should do it now. It would be a done deal."

Spirit Airlines only has enough available cash to continue operations for a matter of days, not weeks, and talks for a government-backed rescue of the no-frills carrier have stalled, sources say.