India, May 2 -- Spirit Airlines is laying the groundwork to shutter its operations as it runs increasingly low on cash, according to people familiar with the matter. Spirit, buffeted by the recent surge in fuel costs, had been in talks with the US government on a rescue financing, but those conversations hit an impasse in recent days. The airline is making preparations to wind down as its liquidity position worsened and the prospects of winning a bailout were dimming, said the people, who asked not to be named because the information is private. The carrier had planned to exit bankruptcy by the summer, but its financial position has worsened due to the surge in fuel costs stemming from the West Asia conflict. bloomberg
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