Originally Posted by FriendlyPilot

US Bank, Spirit's credit card processor is actually holding most of Spirit's "cash on hand" to do just this, refund tickets in the event Spirit closes doors.

In other news Spirit filed its February operating report and even after all the cost cutting and returning leases is still had an operating loss of $58M in February, over $2M a day. I can't imagine that's not at least $4M a day now with fuel prices where they are.