Spirit Airlines Shutdown Results in 17,000 Job Losses
The shutdown of Spirit Airlines (FLYY) resulted in the loss of 17,000 jobs and disrupted the plans of tens of thousands of travelers, but experts say it is not yet clear whether the company's absence will have a significant impact on the industry, travelers, or the U.S. economy, Niraj Chokshi of The New York Times reports. Airlines will likely have an easier time raising fares and many will absorbs Spirit's assets in airports, but the effect may not be huge, since Spirit shrunk a lot recently and was in its second bankruptcy in two years. Publicly traded companies in the airline space include Alaska Air (ALK), American Airlines (AAL), Delta Air Lines (DAL), Frontier Group (ULCC), JetBlue (JBLU), Southwest (LUV), Sun Country Airlines (SNCY) and United Airlines (UAL).
