Spirit exit adds pressure to Richmond summer fares

State of play: 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, Axios' Nathan Bomey reports.

• The company said passengers who booked flights with credit cards or debit cards will automatically get refunds.
• Several airlines said that they'd aid Spirit customers, including United and American.
• Affected passengers can visit SpiritRestructuring.com for more information.

Of note: Last week, the Capital Region Airport Commission approved Spirit's request to shrink its Richmond footprint by dropping its baggage office and reducing its ticket counters.

The changes come just as the summer travel season is moving in and travelers are facing higher ticket prices, driven by the war in Iran.

• Yes, but: Richmond airport hasn't seen in any indication — yet — that summer travelers are pulling back, RIC spokesperson Troy Bell tells Axios.
• In fact, the airport expects "typical or near-typical peak season passenger volume."
• And several seasonal budget carrier routes restart this month, including to Nashville (via Allegiant) and Los Angeles and San Francisco (with Breeze).

Fun fact: Spirit's presence was already small in Richmond, accounting for just 3.5% of market share so far this year.