Budget carrier Spirit Airlines filed for bankruptcy this week, stoking concern about how the financial peril of a low-fare option could impact prices across the industry. “Guests can continue to book and fly without interruption and can use all tickets, credits and loyalty points,” Spirit Airlines said in a statement on Monday. MORE: Spirit Airlines files for Chapter 11 bankruptcy protectionSome experts downplayed the effect on prices, saying Spirit Airlines holds a relatively small market share and alternative low-cost carriers would jump into a void left in the event of downsizing or merger. The financial travails faced by Spirit Airlines are part of a wider trend that has thinned out low-cost offerings, placing increased importance on the fate of Spirit Airlines for the competitiveness of the marketplace, Larounis added. What does the Spirit Airlines bankruptcy mean for airfares?

Source: ABC News November 19, 2024 19:34 UTC