O’Leary Ventures Chairman Kevin O’Leary discusses the closing of Spirit Airlines and the price New York City is paying for Mayor Zohran Mamdani’s policies on ‘Varney & Co.’
One week after Spirit Airlines shut down operations, a new campaign to save the budget carrier has gained traction online, with more than $335 million in pledges.
TikTok creator Hunter Peterson posted a video last weekend proposing a plan to buy Spirit through crowdfunding.
In the video, which has garnered more than 7 million views, Peterson suggested that if enough people contributed, the airline could be revived.
“This is a brilliant idea: We’re putting Spirit Airlines, which is owned by people. The planes are gone. We’re creating a new airline,” he said.
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Spirit Airlines planes landed on the tarmac as the company ceased operations at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on May 2, 2026. (GIORGIO VIERA/AFP via Getty Images/Getty Images)
Shortly after posting the video, Peterson launched letsbuyspiritair.com, which as of Saturday night had collected at least $337 million in non-binding pledges.
The site allows users to pledge to a proposed ownership stake in Spirit Airlines, although donations do not include actual payments and instead reflect expressed interest.
Peterson later said in the following video that the idea is gaining momentum.
“This started as a joke and it quickly went bad in the best way possible,” Peterson said.
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Spirit Airlines closed after more than 30 years, prompting online efforts to revive the company through fundraising. (Airlines / Fox News)
His proposal is very similar to the ownership structure of the Green Bay Packers, a publicly owned NFL team.
Spirit announced on May 2 that it would cancel all flights and end operations “effective immediately.”
The airline said customers who booked directly with Spirit using a credit or debit card will be automatically refunded.
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A Spirit Airlines commercial jet takes off after take off from Las Vegas International Airport in Las Vegas, Nevada, US, February 8, 2024. (Mike Blake / Reuters)
“All flights booked with credit and debit cards are in the process of being automatically refunded,” a Spirit spokesperson told FOX Business. “The majority of guests who booked travel by credit or debit card have been refunded as of Saturday evening, with a small percentage continuing to process. Refunds may take some time to appear in the guest’s account.”
Spirit said the closures followed failed restructuring efforts, citing rising fuel costs and an inability to secure additional funding.
“For more than 30 years, Spirit Airlines has been instrumental in making travel accessible and connecting people while driving accessibility across the industry,” Spirit President and CEO Dave Davis said in a statement.
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A JetBlue flight descends past a Spirit Airlines flight on the taxiway at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images/Getty Images)
“… Strengthening the business required hundreds millions of dollars more of money the Spirit doesn’t have and can’t get,” Davis added. “This is very disappointing and not the outcome we want.”
Customers who purchased tickets through third-party vendors, including travel agencies, are advised to contact those providers for a refund.
Claims by passengers who booked flights using vouchers, travel credits or loyalty points will be handled through Spirit’s bankruptcy process, the airline said.
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FOX Business has reached out to Spirit for comment.
FOX Business’ Sophia Compton contributed to this report.
