Spirit Airlines announced it is winding down operations, with all flights cancelled, after failing to emerge from bankruptcy. The decision follows the airline's inability to secure a crucial $500 million bailout from the Trump administration . Sources familiar with the matter informed the Wall Street Journal on Friday that the deal reportedly collapsed because Spirit could not obtain the necessary backing from its bondholders and government stakeholders. The airline's website now confirms that all services have been suspended and customer support is no longer available. In a statement, Spirit Airlines said: "We are proud of the impact of our ultra-low-cost model on the industry over the last 34 years and had hoped to serve our guests for many years to come." Like many airlines, Spirit struggled with intense pressure from soaring fuel costs, which have roughly doubled since the outbreak of the Iran war.…