Spirit Airlines is dead, but the finger-pointing is very much alive.
Trump administration officials spent the weekend blaming former President Biden, whose Justice Department successfully blocked JetBlue from buying Spirit for $3.8 billion.
Spirit told the White House to look in the mirror, saying its insolvency was sparked by an Iran war that's caused jet fuel prices to spike.
Why it matters: Around 17,000 people just lost their jobs, and thousands of passengers found themselves stranded.
A fully closed Strait of Hormuz was long seen as unthinkable — and unmanageable if it happened — based on past modeling and interviews with energy experts.
Why it matters: That conventional wisdom underscores just how unprecedented today's closure is — and how little playbook exists for what could come next.
President Trump said the U.S. Navy will start guiding ships from foreign countries through the Strait of Hormuz from Monday and warned that if Iran tries to disrupt the process, the American military will use force.
Why it matters: This move that Trump called "Project Freedom" is the most significant step by his administration to try and reopen the key strait since Iran shut it down early in the war.
