Spirit Aviation, which has been trying to restructure its business for a year and a half, <a href="https://finance.yahoo.com/markets/stocks/articles/spirit-airlines-begins-orderly-wind-062300402.html">announced</a> on Ma. 2 that it would immediately wind down its operations. This is the only way out amid a significant rise in oil prices and lack of additional sources of financing, it explained.

Lowcoster Spirit has announced that it will cease operations immediately. How did he explain it?

Dubai International Airport (DXB), the world's largest international air hub, reported a 66% drop in passenger traffic in March as the war in Iran paralyzed air traffic across the Middle East, Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-05-04/dubai-airport-passenger-traffic-drops-66-in-march-on-iran-war">writes,</a> citing a DXB statement.

Dubai airport passenger traffic collapses 66% in first month of war

Spirit Aviation Holdings, Inc.

JetBlue Airways Corporation

The reports pushed the papers of the budget airline's competitors upward

Spirit Aviation shares plummeted 70% on news that the company is preparing to shut down

Air Asia Co., Ltd.

Deutsche Lufthansa AG

United Airlines Holdings, Inc.

Delta Air Lines, Inc.

The war in the Middle East has disrupted energy supply chains, doubling jet fuel prices and forcing major carriers around the world to reduce flights ahead of the peak summer season.

Big test: 19 of 20 major airlines cut flights due to fuel prices

Air France-KLM SA

International Consolidated Airlines Group S.A.

Jet fuel prices have doubled in recent weeks

Long-haul flights have gone up $100 per person because of the war in Iran. What about tickets?

American Airlines Group Inc.

Shares of United Airlines and American Airlines fell in trading on April 20, after the latter publicly rejected the idea of a merger. American called the deal, which would have resulted in a giant carrier on the market, a threat to competition.

Shares of American Airlines and United fell after rejecting the creation of an airline giant

Tesla, Inc.

Intel Corporation

The Boeing Company

The main focus of the markets this week continues to be on developments in the Middle East. Last Friday, April 17, oil fell heavily on Iranian Foreign Ministry <a href="https://oninvest.com/article/iran-morgnul-pervym-cto-znacit-otkrytie-ormuzskogo-proliva-s-tocki-zrenia-politiki">statements</a> that the Strait of Hormuz was "fully open" to merchant ships. But over the weekend, the situation <a href="https://oninvest.com/article/gaz-v-evrope-podorozal-na-10-brent-na-7-posle-eskalacii-v-ormuzskom-prolive">unfolded</a>: the U.S. Navy fired on and seized an Iranian cargo ship, and Tehran accused Washington of violating the truce, which is due to end on Tuesday, April 21, and resumed the blockade of the strait, which led to a <a href="https://oninvest.com/article/gaz-v-evrope-podorozal-na-10-brent-na-7-posle-eskalacii-v-ormuzskom-prolive">sharp rise in oil prices</a>.

The situation around Iran, Tesla and Intel earnings: what investors need to know this week

Aviation fuel stocks in Europe may be left "for six weeks or so," Fatih Birol, head of the International Energy Agency, <a href="https://apnews.com/article/iran-war-europe-jet-fuel-flight-cancellations-birol-6e67fafd493861b3858de5548aa77703">warned</a> in an interview with the Associated Press. Amid the blockade of the Strait of Hormuz due to the Iranian crisis, carriers that depend directly on energy exports from the region continue to face difficulties. Birol said flight cancelations could begin "in the near future" if oil supply problems persist.

Europe may only have enough jet fuel for six weeks - IEA chief

A merged air carrier could become the largest in the world

United and American Airlines rose in price after reports of a possible merger into the giant

American carrier Delta Air Lines, the country's largest airline by market capitalization, has <a href="https://news.delta.com/suite-spot">unveiled an</a> updated version of the Delta One business class. The company is betting on the format, which in recent years has become a key for the industry, Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-04-13/delta-rolls-out-new-business-class-suites-in-premium-push">writes</a>.

Delta is launching new business class cabins. Why is it betting on the premium segment?

The restrictions will be in place until Ma. 31

Dubai to allow foreign airlines no more than one flight per day - Reuters

The company is considering raising ticket prices