Spirit Airlines has received court approval to close the company and sell its assets. This decision follows months of financial trouble and a failed rescue plan. All flights have stopped, and many passengers must find other ways to travel.

The airline collapsed because of high fuel prices, higher costs for workers, and not getting help from the government. Over 12,000 employees are expected to lose their jobs as Spirit sells its planes and airport slots. Other airlines are interested in buying some of Spirit’s business parts.

Experts believe Spirit’s shutdown will change the aviation industry. Airfares may rise sharply as there will be fewer low-cost flights. Other airlines could get bigger. The loss of Spirit could make flying more expensive for many travellers.