Deregulation No single factor is wholly responsible for the low-cost airline's failure, but the government certainly didn't help. | (Illustration: Joanna Andreasson; Source images: iStock, Wikimedia) In May, ultra-low-fare Spirit Airlines announced that it would ground all flights and shut down, effective immediately. That happened despite "extensive and comprehensive efforts to restructure the business" and "create a sustainable path forward," the airline explained in a press release.