Spirit Airlines faces shutdown after government rescue deal collapses

Spirit Airlines is preparing to shut down after a $500 million government lifeline it was counting on to stay in business fell through. The budget carrier had been relying on this rescue deal to avoid bankruptcy, but the collapse of negotiations leaves the airline with no viable path forward. The shutdown would affect thousands of employees and millions of passengers who rely on Spirit's low-cost flights. The failed deal marks a dramatic turn for the airline, which had been struggling financially due to rising operational costs and intense competition. No further details about the reasons for the deal's collapse have been released.