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Influencer hopes to crowdfund $1.75bn to buy collapsed Spirit Airlines

Boing Boing·Rob Beschizza·28 days ago
#PRP1QYPP
#store#ms#airlines#crowdfunding#war#spirit
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Image: Spirit Airlines flight; MKPhoto12 / shutterstock.com Spirit Airlines, the previously-bankrupted budget carrier put out of business over the weekend by Trump's aimless Iran War and soaring oil prices , may yet have a future: a crowdfunding campaign to relaunch it as "Spirit 2.0" , "owned by the people." The influencer behind the campaign says it received $88m in non-binding pledges from 124,755 "founding patrons" before technical trouble snarled the site. Spirit didn't fail because people stopped flying. It failed because Wall Street loaded it with debt and extracted every dollar it could. The routes are real. The demand is real. The only thing missing is ownership that answers to the people — not to shareholders. … Private equity is already circling the wreckage. But before they lock it up — there is a narrow window for something that has never happened in commercial aviation. The passengers, the workers, and the communities Spirit served can take it back. Like the Green Bay Packers. Like WinCo Foods.…

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