Spirit Airlines bankruptcy advisers have accumulated over $80 million in fees as the Florida-based discount carrier liquidates following a failed bailout attempt. The company, burdened by a $3 billion debt load, filed for bankruptcy last August with plans to reorganize into a slimmer carrier with bondholders taking ownership.

The reorganization collapsed after surging jet fuel prices prompted by Iran war proved too much to overcome. More than 17,000 Spirit employees lost jobs when the airline halted operations on May 2. Davis Polk and FTI Consulting lead the billing with $26 million and $24 million respectively, while unsecured creditors have accrued nearly $11 million in fees.

The current bankruptcy follows Spirit's previous filing in November 2024 that cost $33 million in professional fees. The airline had exited that bankruptcy in March 2025 after shedding $1 billion in debt but making few operational changes. With $700 million in cash remaining, Spirit requested an $11 million pool to pay employees completing the liquidation process, which is expected to last several more months.