Story perspectives
Airline Bankruptcies Surge as Jet Fuel Hits $4.51
5/23/2026
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Story summary
- Spirit Airlines ceased operations on May 2, 2026 after filing for bankruptcy a second time.
- Magnicharters filed for bankruptcy protection on May 19, 2026 in Mexico City’s First District Court.
- Joy Air entered formal restructuring on May 22, 2026 carrying $734.9 million in debt.
- Jet fuel prices rose to $4.51 per gallon by late April 2026, double the projected $2.24 per gallon for the year.
