This week, Spirit Airlines will end service to nearly a dozen cities. It is laying off staff, grounding planes and slashing its flight schedule. CBS News' Kris Van Cleave explains what it means for everyone who flies.
Breakdown
- Spirit Airlines is discontinuing service to multiple cities, including Oakland, Hartford, and Minneapolis. 24s
- The airline plans to furlough a third of its flight attendants, seek pilot pay cuts, and reduce flights by 25 percent. 1m 17s
- Industry analysts warn that Spirit's exit may result in higher fares for consumers unless other low-cost carriers replace the lost competition. 55s
- Spirit's financial struggles follow a failed merger with JetBlue and a shift in consumer demand toward premium experiences. 1m 11s
- Other airlines, such as United, are expanding their routes to take advantage of Spirit's network reductions. 1m 50s