Spirit Airlines is reportedly set to cease operations at 3am on Saturday.
The airline, which began air operations in 1990, had been hoping for a $500 million lifeline from the federal government, but the deal has not been finalized, reports the Wall Street Journal.
Sources told the outlet that the budget airline has failed to get sufficient support from bondholders and the government to secure the funding before running out of cash.
The collapse of the airline could leave passengers stranded across the nation, and places over 14,000 jobs at risk.
Despite the reported end of its operations, Spirit's website is still allowing customers to book flights before the reported 3am deadline.
The carrier previously filed for bankruptcy twice between November 2024 and August 2025, and it currently remains under Chapter 11 protection.
The airline has been in talks with the Trump administration over a deal to save the company, however reports say that a deal to bail out Spirit has failed to materialize.
Spirit Airlines could dissolve as soon as today and leave passengers who have already booked tickets stranded at airports around the country