Allison Sider

The rescue that Spirit and the government and its bondholders have been talking about for the last...

couple of weeks, some of its bondholders dug in their heels against the deal, convinced that it was not going to be the best outcome for them.

There was disagreement within the Trump administration.

Our understanding is that those talks are over and as a result, Spirit is going to shut down.

Some of Spirit's competitors have been almost hoping that this would happen.

It removes a lot of capacity from the markets, means less competition.

What was Spirit's reputation in the industry?

Spirit is sort of a shadow of its former self.

It used to be much more of an industry maverick that really went head to head with bigger airlines and helped keep fares in check.

And in ways that consumers didn't like so much either, it's helped bring over the nickel and diming fee model to the United States where

Spirit charged super low base fares and then charged a fee for almost everything else, even water or paper boarding passes.

But in the years since, lots of airlines have adopted many of those practices.

It's the end of the line for an airline that was really revolutionary in its time and helped bring cheap air travel to the masses.