HAPPENING NOW
Major airline could shut down any day. Here’s what happens to your ticket
Airline Could Go Under Any Day. What Happens To Your Ticket Now?
Spirit Airlines could shut down and begin liquidation as soon as this week, raising questions for travelers.The airline has already filed for bankruptcy twice, and its latest effort to emerge from the process is not going well, CNBC reported.“We don’t comment on market rumors and speculation,” the budget airline told CNBC.Some travelers may be able to get refunds if their flights are canceled, depending on factors such as whether they booked with a credit card, have travel insurance, and others, according to The Points Guy.InsureMyTrip CEO Suzanne Morrow said that travelers’ options depend on “when that policy was purchased.”“For those who already hold a policy, the answer is in the fine print. Timing plays a major role here. At this stage, many insurers view Spirit’s financial situation as a known or ‘foreseeable’ event, which can limit access to key benefits like Trip Cancellation or Trip Interruption,” she added.“If someone is thinking about buying coverage now, they should be aware that if Spirit ceases operations after the policy is purchased, standard cancellation or...
