By Ryan Erik King March 17, 2026 2:10 pm EST
Al Drago/Getty Images
It's not the best time to be operating an airline. The United States and Israel waging war against Iran has led to the closure of the Strait of Hormuz and a spike in global fuel prices. While President Trump wants tanker captains to just run the gauntlet of Iranian missiles and mines, roughly 20% percent of the world's oil is cut off the market. According to CNBC, United CEO Scott Kirby said that higher airfares were on the horizon due to rising fuel prices. Cathay Pacific and Qantas have already raised their ticket prices.
Spirit's position as an ultra-low-cost carrier leaves it vulnerable to rising fuel prices. It also relies heavily on tourist travel, especially to Florida. Kirby and other executives noted that travel demand has remained strong, but they don't know how long that will hold as the war drags on. Only time will tell if Kirby's early prediction that Spirit will collapse comes to fruition.