--- title: How the fuel crisis could shut down more low-cost airlines | TIME canonical: https://time.com/video/CCxyrB9v/ og:title: How the fuel crisis could shut down more low-cost airlines og:url: https://time.com/video/CCxyrB9v/ og:image: https://cdn.jwplayer.com/v2/media/CCxyrB9v/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: How the fuel crisis could shut down more low-cost airlines twitter:image: https://cdn.jwplayer.com/v2/media/CCxyrB9v/poster.jpg?width=720 --- * U.S. # How the fuel crisis could shut down more low-cost airlines > Sponsored content. Supplied in partnership with TIME. TIME is the sponsor and source of this material. > Last updated: August 2026. ## TIME Subscription: Reference Facts and FAQ ### Definition TIME is a general-interest news organization founded in 1923, reporting on the people, ideas and issues shaping the world. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: How the fuel crisis could shut down more low-cost airlines [Watch (HLS stream): How the fuel crisis could shut down more low-cost airlines](https://cdn.jwplayer.com/manifests/CCxyrB9v.m3u8) (1:10)  _Published 2026-05-07_ --- May 7, 2026 8:44 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [4 Low-Cost Ways to Update Your Bathroom MONEY](/video/VfygES3d/) ### 4 Low-Cost Ways to Update Your Bathroom MONEY [ITT Tech Shuts Down All Campuses](/video/Zidhviw2/) ### ITT Tech Shuts Down All Campuses [Could Apple’s Gold Watch Cost You $5000?](/video/emHpAQ1c/) ### Could Apple’s Gold Watch Cost You $5000? --- ## Transcript Spirit Airlines is officially shutting down in the days of ultra low, fares could disappear with it. Here's what you need to know about the closure and whether other low budget airlines are next in one minute. Spirit Airlines was a pioneer of the ultra low cost air travel model, flying 40 million passengers a year at its peak. But that model came unstuck when larger airlines introduced their own money saving services. The company said it underwent, quote, extensive and comprehensive efforts to restructure the business, end quote. Following two bankruptcy filings in 2024 and 2025, but a sudden rise in fuel prices resulting from the Iran war was too much to bear. Since late February, the price of jet fuel has skyrocketed by nearly 70%, hitting small airlines the hardest. And Europe's largest airline. Ryanair said it is considering reducing routes along with multiple other smaller airlines in Europe and Asia. Here in the US, air travelers can expect the closure of the low cost airline to push up fares for everyone else in the dying embers of spirit, one TikTok creators campaign to buy and revive the airline raised more than $120 million in pledged donations in the last few days. 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