Spirit Airlines will close. What travelers need to know

Spirit Airlines could close at 3 a.m. ET Saturday, according to people familiar with the matter. The carrier has failed to secure a financing line to continue operations, although it has not commented on the potential shutdown or its plans.

About 290 Spirit flights are scheduled for Saturday, according to aviation website Flightradar24. Another 381 are scheduled for Sunday.

Travelers with Spirit tickets may understandably negotiate. Although there have been some US airlines that have had to close in recent years, the company with a budget is bigger than the latest airline failures and connects major cities like New York, Miami, Detroit and Los Angles – and many others in between – with its Airbus jets.

Here’s what travelers should know:

Soon? Nothing.

Travelers booked on a Spirit flight, like this CNBC reporter recently this month, may be able to get a refund if they bought tickets with a credit card.

If the ticket is purchased with a debit card or loyalty points, however, the chances of getting a refund are slim, said Henry Harteveldt, founder of Atmosphere Research Group, a travel consultancy.

“If you hold a flight on Spirit, don’t cancel immediately. Wait for the airline to announce it’s closing,” he said.

Don’t rely on it.

Spirit declined to comment on the potential closure. If it confirms the end of the operation, the carrier will probably have information on its website about the next steps for travelers.

Harteveldt said travelers should not go to the airport expecting to find Spirit staff in case the airline goes out of business. Call centers may struggle to stay operational.

That may leave passengers with fewer answers than they’d like, but some airlines may be helping affected customers.

Airlines offering last-minute fares, possibly with some discounts, will be available to travelers at airport ticket counters.

United Airlines, JetBlue Airways, Frontier Airlines again American Airlines are among the companies that say they are ready to help Spirit customers and employees if the carrier closes.

That could mean scheduling extra flights to carry stranded passengers, similar to what they do during a hurricane or other natural disaster.

Spirit, known for its bright yellow planes, low fares and premium everything else, has been successful for years, but this week is on the brink of liquidation after failing to reach an agreement with bondholders over a $500 million federal bailout from the Trump administration.

Last year, Spirit filed for its second bankruptcy in less than a year, though it had plenty of problems even before that.

The program to be acquired by JetBlue is restricted. Rising costs have upended its business model. Engine failure grounded many of its flights. And, in general, high-flying became more popular with consumers, making airlines profitable.

At the same time, large, legacy airlines were selling their basic economy fares similar to what Air offers, but through larger networks.

Airlines have been adding flights since Spirit filed for bankruptcy last year on some of its routes and major airports. They will probably continue to do so.

Experts said they expect fares to rise, at least in some markets, if the discount goes away, or the carrier drops significantly.