South Florida-based Spirit Airlines may be nearing a breaking point as soaring fuel costs deepen the financial strain on the Dania Beach-based carrier. The low-cost airline could be forced to liquidate its assets as soon as this week, according to reporting by The Wall Street Journal.
Spirit, a major presence at both Fort Lauderdale-Hollywood International Airport and Miami International Airport, operates more than 500 daily flights to more than 60 destinations. Spirit currently operates one flight daily to and from Atlantic City from Palm Beach International Airport. A liquidation would mark a dramatic turn for an airline that has long been a key player in the South Florida travel market and a major option for budget-conscious flyers.
The company has been battling financial troubles for years and has been trying to recover from its second bankruptcy in less than a year. Now, rising fuel prices appear to be adding even more pressure to an already fragile operation…