Spirit Airlines May Fly Again Buyout Offer in the Wind

M.A. Dworkin

USVI - Before it ceased all operations on May 2, 2026, Spirit Airlines played a vital role in keeping airfare prices down in the USVI and across the Caribbean. Now, Texas-based Mooney International has submitted a formal bid to acquire Spirit Airlines and its related assets and return the no-frills, low-cost airlines to its former glory days as an important air carrier in the U.S., Latin America and Caribbean markets.

Mooney International said its proposal would combine operations involving Spirit Airlines, Mooney International, and Philippine cargo operator SEAir, along with establishing a planned new hub in Mexico City, Mexico, under a banner of what is being described as a shared focus on affordable and accessible air travel throughout the world.. 

“Our objective is not only to preserve the Spirit Airlines legacy, but to create a new chapter focused on operational excellence, enhanced customer experience, expanded route connectivity, sustainable aviation initiatives, and long-term growth,” Mooney International stated in their buyout announcement.

Spirit Airlines, headquartered in South Florida, was one of the nation’s largest ultra-low-cost carriers and served dozens of locations across the U.S, Latin America and the Caribbean.

Spirit’s march to closure began when the federal government blocked its merger with JetBlue in 2024. The government cited anti-trust issues and argued that the airline played a vital role in forcing its competitors to keep prices down. JetBlue estimated that when Spirit stops flying a route, average fares go up by 30%.

Currently, Spirit’s physical aircraft and gates are undergoing an asset auction.

Spirit Airline’s Chapter 11 BK was filed in New York’s Southern Bankruptcy court, which would have to make a ruling on the offer.