World

Spirit Airlines closes as fuel prices double due to Iran war

Budget US carrier Spirit Airlines ceased operations on Saturday in the wake of the fuel crisis brought about by the US-Israeli war on Iran.

The Florida-based airline is the first to have closed due to a doubling of jet fuel prices during the war, which is now two months old. 

The closure will cost thousands of jobs and is a blow to US President Donald Trump, who had proposed $500m to save Spirit despite opposition from some of his closest advisers and many Republicans in Congress.