Additional Coverage:
- A Spirit Airlines fan has launched Spirit 2.0, a crowdsourcing effort to buy the airline: ‘The people can own it’ (businessinsider.com)
Spirit Airlines, after 34 years in operation, officially shut down early Saturday morning. Yet, by that evening, a determined former passenger had already sprung into action to try and revive the airline.
Hunter Peterson, a voice actor and self-proclaimed Spirit superfan who once flew Spirit nonstop for 24 hours, took to Instagram with an ambitious proposal: “We could buy Spirit Airlines.” What began as a humorous idea quickly gained momentum, evolving into a grassroots movement he calls Spirit 2.0.
Peterson is rallying everyday people-former employees, loyal passengers, and community members-to band together and purchase the airline before private equity firms step in. On the Spirit 2.0 website, he warns, “Private equity is already circling the wreckage. But before they lock it up, there is a narrow window for something unprecedented in commercial aviation: the passengers, the workers, and the communities Spirit served can take it back.”
The movement has struck a chord, with millions viewing Peterson’s posts and thousands visiting the website-so many that it has experienced crashes due to traffic. Spirit 2.0 aims to follow a unique ownership model inspired by the Green Bay Packers, the only nonprofit, publicly owned team in the NFL. Just as the Packers are owned collectively by hundreds of thousands of shareholders rather than a single billionaire, Peterson envisions the airline being owned by its community of supporters.
“No billionaire can move the team. No hedge fund can gut it for parts,” the website states, highlighting this novel approach applied to aviation for the first time in American history.
Peterson is collecting non-binding pledges of intent from those interested in contributing, with nearly $23 million pledged from over 36,000 people as of Sunday afternoon. However, the airline’s estimated value remains much higher-Peterson is targeting $1.7 billion in total commitments, a fraction of JetBlue’s previous $3.8 billion acquisition attempt that was blocked by antitrust regulators in 2022.
The website invites supporters to “register your intent to contribute-starting at $45. No money moves yet.
This is your declaration that you want in before the window closes.” The goal is to demonstrate enough collective will and capital to make a serious bid before private equity firms take control.
Spirit Airlines, known for its ultra-low fares, had faced a challenging few years, including furloughs, layoffs, pay cuts, bankruptcy concerns, and a failed $500 million federal bailout attempt during the Trump administration. Its closure affects roughly 17,000 employees and left many passengers scrambling for alternatives.
In response, other carriers stepped up: United Airlines offered price-capped tickets to those impacted by canceled Spirit flights, and American Airlines capped fares on overlapping routes to assist stranded travelers.
Peterson, who humorously refers to himself as the potential new CEO of Spirit Airlines, expressed surprise at the overwhelming public interest in his campaign. “I’m genuinely crashing out right now,” he posted on Instagram, reflecting on the movement’s rapid growth.
As Spirit Airlines’ story enters a new chapter, this grassroots effort could mark a historic first in American aviation-a community-owned airline brought back to life by its own passengers and workers.