Bankrupt Spirit Airlines "could liquidate as early as this week," according to a new CNBC report. The troubled carrier, stuck in years of turbulence, has failed to emerge from its second bankruptcy in less than a year and is now being squeezed by soaring jet fuel costs.
NEW: Spirit Airlines could liquidate and shut down as soon as this week, @lesliejosephs of @CNBC reports, citing “people familiar with the matter.”
Latest round of chatter about a deeply troubled airline … but rising fuel prices could be its death knell.…
When the budget carrier would begin the liquidation process was not immediately clear to CNBC's sources, but the report comes just after an overnight Bloomberg story warned about the "risk of liquidation" due to the latest surge in jet fuel prices.
The airline had been trying to downsize its jet footprint and focus on popular seasonal routes, while labor unions made concessions to help keep operations afloat. But Spirit's financial problems have been mounting for a while.
In 2024, JetBlue terminated its $3.8 billion merger deal with the carrier, citing low odds of regulatory approval after a Biden-era federal court blocked the deal over antitrust concerns.
Both CNBC and Bloomberg sources said the liquidation was likely to happen this week; today is Thursday, and the news may break as early as Friday.
The airline, which is still operating as of late Thursday morning, was expected to exit bankruptcy this summer, but that now appears increasingly unlikely. The carrier filed for Chapter 11 bankruptcy protection in August of last year, the second time in less than a year.
Airlines have increasingly warned of a spike in jet fuel costs and the financial impacts stemming from the Hormuz chokepoint disruption. Multiple carriers, including United Airlines, have warned about hiking baggage fees and ticket prices to offset jet fuel costs.
Meanwhile, UBS analysts are searching for a possible bottom in airline stocks (read the report).
The best-hedged airline amid the jet fuel turmoil has been Delta Air Lines, the only U.S. carrier to operate a refinery.
Earlier this week, Reuters reported that United CEO Scott Kirby pitched a tie-up with American Airlines during a recent conversation with President Trump. The potential merger would create a super airline to strengthen U.S. competitiveness globally.
Tyler Durden Thu, 04/16/2026 - 17:25Authored by Jill McLaughlin via The Epoch Times (emphasis ours),
Fraudsters used special devices to skim card information from electronic devices used to read food stamp cards in northern and central Texas, the U.S. Secret Service’s Dallas Field Office reported April 15.
A U.S. Secret Service agent, in this file photo. Madalina Kilroy/The Epoch TimesThe Secret Service worked with local law enforcement to prevent an estimated $13.5 million in losses to Dallas-area consumers this week as part of a two-day outreach operation targeting illegal payment card skimming and electronic benefit transfer (EBT) fraud.
“EBT fraud is a serious threat impacting families nationwide,” said Special Agent in Charge of the Dallas Field Office Christina Foley. “Our investigative teams are committed to dismantling these skimmer operations and holding perpetrators accountable.”
Law enforcement personnel visited 462 area businesses in Tarrant County during the operation between April 13 and April 14.
Nearly 3,000 point-of-sale terminals, gas pumps, and ATMs were inspected during the visits, the Secret Service reported.
Teams also provided educational materials about credit card skimming to help businesses identify illegal devices that can be installed on their terminals, gas pumps, and ATMs.
The FBI estimates skimming costs financial institutions and consumers more than $1 billion each year. Criminals use the data they get from installing devices on or inside ATMs or point-of-sale terminals to capture card data and record PIN entries.
Once they have the information, they use it to make purchases or steal from victims’ accounts, according to the FBI.
SNAP benefits can also be skimmed, according to the U.S. Department of Agriculture. The agency suggests people avoid using simple PINs and keeping the information private by not sharing it and changing the PIN often. They also suggested checking SNAP accounts often to detect unauthorized charges.
“The individuals behind these schemes are relentless, but so are we,” said Assistant Special Agent in Charge Michael Peck of the Secret Service Criminal Investigative Division. “Through coordinated efforts and innovative investigative methods, we are disrupting their operations and ensuring that those who exploit vulnerable families are brought to justice.”
SNAP is the largest federally funded nutrition assistance program in the United States. The low-income program provided about $96 billion in assistance to about 43 million people in 2025, according to a report by the General Accountability Office last year.
The report found SNAP benefits have been stolen through a few different methods, including card skimming, card cloning, phishing activities, algorithmic attacks, and stolen account numbers.
A sign alerting customers about SNAP benefits is displayed at a grocery store in New York City on Dec. 5, 2019. Scott Heins/Getty ImagesThe EBT cards are a target for theft because most cards do not have theft-prevention features, such as embedded microchips that are standard in commercial debit and credit cards to prevent card skimming, according to the GAO report.
“Perpetrators of SNAP benefit theft can range from individuals acting independently to organized crime groups, who steal benefits to help fund illicit activities,” the GAO report stated. “Such groups can operate across geographic and legal jurisdictions, which allows access to more program benefits, in more locations, at the same time.”
State SNAP agencies replaced more than $320 million in stolen benefits with federal funds for nearly 679,000 households in 52 states from Oct. 1, 2022, through Dec. 20, 2024, according to the report.
Tyler Durden Thu, 04/16/2026 - 17:05