spirit airlines shutdown refunds points vouchers bankruptcy

Spirit Airlines' bankruptcy removes a low-cost competitor from the U.S. domestic air travel market, potentially reducing capacity on leisure routes and allowing remaining carriers (United, Delta, American, Southwest) to increase pricing power. The immediate commercial mechanism is a supply reduction in budget air travel, benefiting legacy carriers' revenue per available seat mile (RASM) and margins. However, the impact is limited to the U.S. airline sector; no direct commodity or input scarcity is created. The channel is demand_spike for remaining carriers' seats and improved pricing environment.