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Airfare Surge Expected After Spirit Airlines Shuts Down Amid Rising Costs

KVIA•Wednesday, May 6, 2026 at 4:51 PM•CNN Newsource

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The recent closure of Spirit Airlines is set to exacerbate rising airfare costs, which have already surged due to increased jet fuel prices and reduced flight availability. Jet fuel prices have skyrocketed by 84% since January, prompting many airlines to cut back on flights, especially those that were only marginally profitable. With Spirit's departure, which accounted for about 2% of summer travel seats, travelers can expect even fewer options and higher prices. The average domestic fare has risen to $365, marking a 24% increase from last year, and further fare hikes are anticipated as airlines aim to recover increased fuel costs. Despite these challenges, demand for travel remains strong, with potential opportunities for budget-conscious travelers to find deals if they are flexible.

Key Details: • Average domestic airfare is now $365, up 24% from last year. • Spirit Airlines' closure could lead to fewer available seats and higher prices. • Jet fuel prices have increased by 84% since January, impacting operating costs. • Travelers are encouraged to remain flexible to find better deals.

travel costs spirit-airlines airfare jet-fuel

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