00:00Spirit Airlines, the carrier that pioneered ultra-cheap flying for everyday Americans,
00:05is now in deep trouble.
00:06And the fallout could change how every American flies.
00:10For more than a decade, Spirit was the airline that made travel possible
00:14for millions of Americans on tight budgets.
00:17$20 fares to Florida.
00:19Cheap connections to family.
00:21Affordable vacations for working families.
00:24Then, the legacy airlines, American, Delta, and United,
00:28copied Spirit's playbook.
00:30They launched their own ultra-low-cost basic economy fares.
00:34They locked in customer loyalty with miles programs Spirit could never match.
00:39And the economy turned against Spirit's core customers,
00:42working-class Americans now squeezed by inflation, oil prices, and stagnant wages.
00:48The result?
00:50Spirit has filed for bankruptcy protection twice in just over a year.
00:54Routes are being cut.
00:56Aircraft are being parked.
00:58Layoffs are coming.
00:59And the company's future is uncertain.
01:02For Americans, this is bigger than one airline.
01:05If Spirit collapses fully, prices on every cheap route could climb.
01:09The competitive pressure that has kept legacy carriers honest could disappear.
01:14The era of $40 flights between U.S. cities may be ending.
01:18And working Americans will be the ones paying more.
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