On Saturday, Spirit Airlines officially shut down all operations.
The announcement came after negotiations for a nine-figure government bailout fell through. The budget airline was unable to continue business with the soaring price of jet fuel that has resulted from Trump’s war on Iran. But that was merely an accelerant. Spirit’s financial trouble goes back to the covid years.
Trump’s war and easy-money policies have pushed up beef prices to near record levels. So, naturally, the DOJ is trying to blame “antitrust violations.”
A recent addition to the Journal of Libertarian Studies:
Abstract
One of the industries hardest hit by the spike in fuel prices caused by the Iran War is airlines. Jet fuel prices have doubled since the start of the war. Airlines have reacted to the fuel price increase by raising fares and baggage fees, as well as by cutting routes.
Raising prices is not a good option for “budget” airlines since their main appeal to consumers is their low prices. Increasing prices could cause these carriers to lose business.
