Business
Spirit Airlines lawyer says fuel prices left no way out of shutdown
Virtuoso VP of Global Public Relations Misty Belles discusses Spirit Airlines shutdown, rising summer travel demand and the surge in premium global experiences on ‘Mornings with Maria.’
A lawyer for Spirit Airlines said Tuesday that the surge in jet fuel prices left the company with “no remaining way out” of bankruptcy and caused it to cease operations last weekend, while it seeks permission to sell assets on an ongoing basis and pay bonuses to remaining employees.
Marshall Huebner, a lawyer representing the airline, said at a bankruptcy court hearing that Spirit learned last Thursday that a proposed $500 million bailout from the Trump administration wouldn’t proceed due to the objections of some of the airline’s creditors.
Huebner apologized to customers and the American public on behalf of the airline and said that Spirit continued to operate on Friday, transporting 50,000 passengers, as it sought to wind down operations before making the news public.
Earlier this year, Spirit announced a plan to exit its second bankruptcy, but the plan’s assumptions about the costs the airline would face were upended by the outbreak of the Iran war, which sent oil prices surging and ultimately pushed jet fuel prices beyond what it could manage.
SPIRIT AIRLINES SHUTS DOWN IMMEDIATELY, STRANDING TRAVELERS: HERE’S HOW TO GET YOUR MONEY BACK

Spirit Airlines is seeking court permission to pay retention bonuses to employees staying on during the wind down, as well as speed up selling assets. (Jason Fochtman/Houston Chronicle via Getty Images)
Spirit had been struggling to turn a profit before the fuel shock and has faced $100 million in fuel costs since March 1. Huebner noted that Spirit faced many hundreds of millions of dollars in high fuel costs over the rest of the year if it were to continue to operate.
The company is seeking approval from the court to pay $10.7 million in retention bonuses to employees who remain with Spirit while it winds down its operations.
The bonuses average $76,000 per participant and the request would see the top three executives paid more, though that amount was undisclosed. The U.S. Trustee, which is the Justice Department’s bankruptcy watchdog, raised concerns about the bonuses.
SPIRIT AIRLINES TO CEASE OPERATIONS AFTER FEDERAL GOVERNMENT BAILOUT FAILS TO MATERIALIZE

Spirit Airlines halted operations on Saturday. (Brandon Bell/Getty Images)
Spirit also raised concerns that it doesn’t have the funds to conduct an organized auction of its aircraft, engines and other equipment – so it’s seeking court permission to conduct fast sales or to abandon the equipment to allow the lenders to repossess.
The airline ceased operations on Saturday, canceling all flights as it began winding down operations “effective immediately.”
BUDGET AIRLINES SEEK FEDERAL AID AS SPIRIT SHUTS DOWN AFTER FAILED RESCUE

Spirit pursued several mergers, including with JetBlue, but ran into antitrust issues. (Joe Cavaretta/South Florida Sun Sentinel/Tribune News Service via Getty Images)
The company said that customers who booked flights directly with Spirit with their credit or debit card would automatically be refunded to their original form of payment.
Most of those refunds were processed as of Saturday evening, though some may take additional time to process and appear in customer’s accounts.
Travelers who bought tickets through third-party vendors, such as travel agencies, will need to reach out to those providers to request refunds, according to the airline.
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Passengers who used vouchers, travel credits or loyalty points to book face more uncertainty, as those claims will be handled through Spirit’s bankruptcy process, with more details on the airline’s restructuring website.
FOX Business’ Sophia Compton and Reuters contributed to this report.
Business
Data-Center Stocks Like Corning and Vertiv Are Getting Clobbered
Contractor Sterling Infrastructure and fiber provider Corning slid more than 10%.
Vertiv, which helps data centers manage power and cooling systems, skidded nearly 9% lower.
Neocloud companies including CoreWeave, Core Scientific and Nebius, which lease computing capacity to larger players, are deep in the red.
Independent power producers such as Constellation Energy and Talen are also down.
Business
Oil Falls As Market Holds Out Hope for End to Conflict
1502 ET – Crude futures settle lower with market expectations of a resolution to the U.S.-Iran conflict outweighing concerns of a renewed flare-up. “The oil market has definitely gotten the sense that President Trump wants this thing over,” says John Kilduff of Again Capital. Fears are increasing that the U.S. will “agree to anything to get it over with for a while so these prices can really come back down,” he adds. The trickle of tankers making it through the Strait of Hormuz isn’t resolving the problem and the market has been relying on storage, but stocks are running down as the strait remains effectively closed, Kilduff says. “The cliff in my opinion is in the beginning of July. That’s when the real crunch should dawn.” WTI ends down 2.7% at $90.54 a barrel and Brent falls 2% to $93.09. (anthony.harrup@wsj.com)
Crude Futures Slip Ahead of the Weekend
0929 ET – Oil futures are lower heading into the weekend as the market holds out hopes for U.S.-Iran negotiations to eventually bring about an agreement to reopen the Strait of Hormuz. The market appears more sensitive to occasional bearish war headlines or optimistic comments from President Trump than to the daily loss of supply, Ritterbusch & Associates says in a note. “Holding a long position that would be more appropriate to global oil fundamentals has been extremely difficult throughout the course of this war.” WTI is down 0.9% at $92.23 and Brent is off 0.6% at $94.49(anthony.harrup@wsj.com)
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Business
The Move Into Gold by Other Nations Has Happened Before. It’s Bad News for the U.S. Dollar.
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Week’s Best: Early Retirement Is Often Unintended
Many Americans dream of an early retirement, but for some, it is an unhappy circumstance forced on them. A new survey from Allianz Life found that 42% of Americans retire earlier than they anticipate, and the reasons are usually beyond their control. Only 21% of those who retired early said they did so because they had saved enough money. Others cited health issues or job loss as reasons.
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Expert Says Nancy Guthrie Disappearance Could Proceed as No-Body Murder Case
TUCSON, Ariz. — Prosecutors could successfully pursue a homicide case in the disappearance of Nancy Guthrie even if her body is never recovered, according to a leading expert in “no-body” murder prosecutions.
Nancy Guthrie, the 84-year-old mother of NBC “Today” co-anchor Savannah Guthrie, vanished from her home in the Catalina Foothills area near Tucson on February 1, 2026. Authorities believe she was abducted, citing blood evidence on her porch matching her DNA and signs of a struggle. More than four months later, no body has been found, no arrests have been made, and the investigation remains active.
Tad DiBiase, a veteran prosecutor who has spent two decades educating law enforcement on no-body homicide cases, told journalist Brian Entin that the Guthrie case could potentially be tried without physical remains. DiBiase emphasized that while a body provides crucial forensic details, strong circumstantial evidence can suffice for conviction.
“It is always, always better to have a body, without a doubt,” DiBiase said. “Because even if you get remains, it tells you this person left these remains here. These remains are from this long ago. How did she die? Did she die of natural causes because of her medical issues?”
He noted that recovering remains helps rule out alternative scenarios, such as the victim walking away or dying from natural causes unrelated to foul play. Nevertheless, DiBiase expressed confidence that a well-prepared case could overcome the absence of a body.
The expert also raised concerns about the investigation’s search efforts around Guthrie’s home. He suggested more thorough searches of the surrounding desert terrain could strengthen any future prosecution by eliminating possibilities like suicide, accidental death or the victim leaving voluntarily.
“When you go to trial, you want to be able to say to the jury, ‘Here’s all the searches we did, and we confirmed that there’s no way that she walked away on her own. There’s no way that she escaped. There’s no way that she [died by] suicide,’” DiBiase explained. “Any of those things. Because you don’t know that unless you’ve done a very thorough search.”
The case stands out as unusual even among no-body murders. DiBiase noted that most such cases involve domestic relationships or acquaintances, whereas Guthrie’s disappearance appears to be a stranger abduction of an elderly victim — a rarer and more challenging scenario.
Pima County Sheriff Chris Nanos has maintained that the investigation is ongoing and an arrest is expected. He previously cited laboratory backlogs for delays in processing evidence, including DNA from the scene. The FBI has assisted in searches and digital analysis, with agents combing desert areas near the home.
Guthrie was last seen on January 31 after a family dinner. Her doorbell camera reportedly captured suspicious activity, and blood evidence on the porch indicated possible violence. A $1 million reward offered by the family for information leading to her safe return or the arrest of those responsible remains active.
Savannah Guthrie and other family members have made public appeals for information while asking for privacy as the investigation proceeds. The high-profile nature of the case has drawn national attention, with true crime enthusiasts and online sleuths offering theories, though authorities caution against speculation that could hinder progress.
DiBiase’s analysis comes as the case enters a critical phase more than 120 days after the disappearance. In no-body prosecutions, success often hinges on comprehensive circumstantial evidence — including witness statements, digital footprints, financial records and behavioral analysis of potential suspects.
Prosecutors typically must prove beyond a reasonable doubt that the victim is dead and that the defendant caused the death. Historical cases have resulted in convictions based on patterns of behavior, motive, opportunity and forensic traces like blood or DNA even without a body.
The terrain around Guthrie’s home — rugged desert with vegetation and rocky areas — presents search challenges. Cadaver dogs have been used, but some efforts have been paused amid backlogs. Recent activity included investigators returning to the property and surrounding areas following new tips.
Human remains discovered nearby were later determined to be prehistoric and unrelated. Officials continue to process evidence, including potential video footage and DNA samples. No public persons of interest have been named, though multiple individuals were questioned early in the probe.
The case has spotlighted vulnerabilities of elderly residents in suburban areas and raised questions about home security. Guthrie’s medical conditions were known, adding urgency to concerns about her well-being if still alive, though investigators increasingly treat it as a homicide.
Savannah Guthrie has returned to work while balancing family support. The emotional toll on the family remains evident in public statements pleading for answers. Community vigils and support have continued, with locals assisting in searches during early weeks.
Legal experts following the case note that while no-body prosecutions are possible, they require meticulous preparation. DiBiase’s expertise includes dozens of such cases, many resulting in convictions. His input underscores the importance of preserving evidence and pursuing all leads aggressively.
Pima County authorities and the FBI have not detailed specific suspects or timelines for charges. Sheriff Nanos has expressed confidence in eventual resolution, emphasizing that the case remains a priority.
As months pass, the focus shifts toward building a prosecutable case with available evidence. Digital forensics, neighbor interviews and analysis of potential ransom communications or vehicle sightings form key pillars. The family’s cooperation and public appeals have generated tips, though many require verification.
The Guthrie disappearance serves as a reminder of the complexities in missing persons cases involving potential foul play. For families, the uncertainty compounds grief. For investigators, the pressure to deliver justice without a body tests resources and resolve.
DiBiase’s comments provide a measured perspective: while challenging, justice remains attainable. Continued searches and evidence processing could prove decisive. As the investigation advances, authorities urge anyone with information to contact the Pima County Sheriff’s Office or the FBI.
The nation continues watching for developments in this high-profile case. Whether Nancy Guthrie’s remains are eventually located or the case proceeds without them, the pursuit of answers persists for her family and the community affected by her sudden absence.
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