The collapse of Spirit will result in thousands of lost jobs and marks the first airline to fail in part due to a doubling in jet fuel prices during the two-month-old Iran war. WASHINGTON: Bankrupt discount carrier Spirit Airlines ceased operations on Saturday (May 2), the industry's first casualty linked to the Iran war , after failing to secure creditor support for a US government bailout plan. The collapse of the first carrier due to a doubling in jet fuel prices during the two-month-old