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by Eric Weiss
South Florida-based Spirit Airlines may be nearing a breaking point as soaring fuel costs deepen the financial strain on the Dania Beach-based carrier. The low-cost airline could be forced to liquidate its assets as soon as this week, according to reporting by The Wall Street Journal.
Spirit, a major presence at both Fort Lauderdale-Hollywood International Airport and Miami International Airport, operates more than 500 daily flights to more than 60 destinations. Spirit currently operates one flight daily to and from Atlantic City from Palm Beach International Airport. A liquidation would mark a dramatic turn for an airline that has long been a key player in the South Florida travel market and a major option for budget-conscious flyers.
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The company has been battling financial troubles for years and has been trying to recover from its second bankruptcy in less than a year. Now, rising fuel prices appear to be adding even more pressure to an already fragile operation.
In recent months, Spirit has taken a series of steps to try to stabilize its business. Pilot and flight attendant unions agreed to concessions to help the airline survive. The carrier has also tried to attract higher-spending travelers by offering bigger seats and bundled fares, while downsizing its fleet and trimming routes in an effort to improve its finances.
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Spirit is not alone in facing higher operating costs. Other airlines have also responded to rising fuel prices by increasing ticket prices and baggage fees. But for Spirit, which has already been under significant financial pressure, the latest jump in fuel costs could prove especially difficult to absorb.
For South Florida travelers, any potential collapse of Spirit would have wide-reaching implications, from reduced low-cost flight options to possible disruptions at two of the region’s busiest airports. For now, the airline’s future remains uncertain, but the latest reports suggest the company is running out of time.
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