Just one week after Spirit Airlines shut down operations, an unlikely online rescue attempt is taking off. TikTok creator Hunter Peterson says he has already secured more than $335 million in public pledges through a crowdfunding campaign to buy and revive the collapsed airline.
According to Fox Business, the campaign started after Peterson posted a TikTok video pitching the idea of turning Spirit into a publicly owned airline funded by everyday travelers. The video exploded online, pulling in more than 7 million views in roughly a week and quickly turning what he described as a joke into a rapidly growing movement.
“This started as a joke, and this is rapidly going out of control in the best possible way,” Peterson said in a follow-up video.
Shortly after the clip went viral, Peterson launched a website allowing supporters to pledge money toward a possible acquisition of the airline.
The pledges are nonbinding and do not involve actual payments, but the scale of interest has drawn attention because the numbers climbed so quickly. Peterson said his vision was inspired by the Green Bay Packers' ownership structure, which is publicly held by shareholders.
The online campaign comes after Spirit officially ceased operations on May 2 following months of financial turmoil. The airline had spent much of the year trying to avoid collapse through bankruptcy restructuring, route cuts, layoffs, and negotiations for a proposed $500 million government bailout. Those talks eventually fell apart amid political backlash and resistance from some creditors.
Spirit’s shutdown marked the end of more than three decades in business. The airline became one of the most recognizable low-cost carriers in the country by offering bare-bones fares and charging separately for extras like baggage and seat selection. Its pricing model forced larger airlines to compete with cheaper “basic economy” tickets across the industry.
But the company’s financial situation worsened after the pandemic. Rising labor costs, intense competition, grounded aircraft due to engine defects, and the collapse of its planned merger with JetBlue Airways all added pressure.
“For more than 30 years, Spirit Airlines has played a pioneering role in making travel more accessible,” Spirit CEO Dave Davis said when the shutdown was announced. He added that the airline needed “hundreds of millions of additional dollars of liquidity” that it ultimately could not secure.
Spirit has already begun refunding customers who booked directly through the airline, while passengers who used travel credits or loyalty points are expected to go through bankruptcy proceedings.
