Things have not been looking good for Spirit Airlines for years now. The budget airline known for its bare-bones approach to the sky filed for bankruptcy in 2024 and then again in 2025. And yet, its demise on Saturday felt sudden and shocking: Spirit said it would go out of business, canceling flights, shuttering its customer service lines, and laying off workers without warning. Why Is This Happening? Spirit’s demise was several years in the works. The company hadn’t made a profit since 2019. Other airlines, including larger and richer Delta Air Lines and American Airlines, invaded its low-cost turf by unbundling tickets and offering their own cheap, perk-free fares. In 2022, the US Department of Justice sued to block a proposed merger with JetBlue, arguing the deal would increase fares for all fliers. In early 2024, following a months-long trial, a federal judge blocked the merger.…