If you want to fly from Fort Lauderdale to New York next weekend, according to Google Flights, you can pay as little as $146 on Spirit Airlines — at least $100 less than a ticket on any other airline. But this deal comes with a big potential downside.
Spirit Airlines is in serious financial trouble. Analysts are warning that a service shutdown could be just days away, while Washington is reportedly considering a bailout package that could keep the airline afloat.
“This is really uncharted territory because we’ve never seen anything like this happen outside of COVID, outside of 9/11, at any single airline in the U.S.,” Katy Nastro, travel expert at airfare deal website Go, told USA TODAY. “It is a very strange scenario in which the soul now finds itself.”
For travelers, purchasing a Spirit ticket right now could be a high-risk, high-reward situation. You could end up with an incredibly cheap getaway – or if the airline goes bust during your trip, you could be stranded and have to pay a hefty price.
“If you feel comfortable with that risk, go for it, but I personally wouldn’t book a Spirit ticket right now until we know more. If you can push your trip out a week, there are better chances,” Nastro said.
If you’re going to fly Spirit in the near future, here’s what to know.
What happens if you book your ticket and the airline shuts down?
You may have to face difficult times.
Airlines sometimes offer discounted “rescue fares” for stranded passengers when one of their competitors goes out of business, but they are not always cheap or readily available.
“I’m hesitant to say these will be cheap flights,” Nastro said. “Cheaper than a last-minute flight, sure, but cheaper than a $49 Spirit flight? No. You’re probably going to pay more than you would for your entire round-trip Spirit flight.”
William J., senior fellow for aviation and travel at the American Economic Liberties Project. McGee said other airlines’ flights are likely already full with their own passengers, especially as we head into the summer, so those carriers may not have extra seats anyway.
“Load factors are so high, how can carriers pick up the slack here?” McGee said.
Book with credit card
If you’re going to take the risk, Nastro said you should definitely pay for your ticket with a credit card, as it’s the best way to protect your purchase if the airline goes down.
Other creditors will be ahead of passengers in the queue for repayment before applying the airline’s limited remaining funds for refunds for canceled flights.
“Dispute the charge because the service was not provided at that time because the merchant is not present,” Nastro said.
Still, McGee cautioned, credit card issuers may not be required to provide refunds in the event of merchant bankruptcy, so the process could also be a gamble.
The Department of Transportation outlines the process for filing a claim with your credit card company.
Travel insurance may also not cover bankruptcy as a reason for a claim, so make sure you know what your policy covers before relying on your insurance.
This might also be a good time to use your Free Spirit points, which may disappear if the airline goes out of business or gets devalued if it restructures.
Know your options
Nastro said if you’ve booked to fly on Spirit, it’s also a good idea to keep an eye on alternative flights home if the airline goes down while you’re away. You might also consider booking a refundable ticket or a ticket with miles on another airline as a backup — just make sure you remember to cancel the backup plan if you board your Spirit flights.
Zach Vischer is a travel reporter and writes the Cruising Altitude column for USA TODAY.