Spirit Airlines shuts down after two bankruptcies and a failed rescue plan

Spirit Airlines is going out of business, canceling all of its flights and stranding current travelers — marking the end of the runway for a company that offered cheap flights to America's budget travelers.Why it matters: The company's demise — which comes after two bankruptcies and a failed attempt to secure a government bailout — marks the first death of a major U.S. airline in decades.Zoom in: Spirit — which has about 17,000 employees and contractors — announced early Saturday that it will im...