"Let's Buy Spirit" — Why Americans Are Trying to Crowdfund a Bankrupt Airline
"Let's Buy Spirit" — Why Americans Are Trying to Crowdfund a Bankrupt Airline
Spirit Airlines Shuts Down After 34 Years
At 3:00 AM on May 2, 2026, Spirit Airlines ceased all operations. One of America's most recognizable ultra-low-cost carriers — which transported 44 million passengers annually — effectively closed its doors overnight. All flights were immediately canceled, and customer service was shut down without notice.
The collapse came after years of mounting financial pressure, the failure of merger talks with both JetBlue and Frontier Airlines, and a last-minute breakdown in federal bailout negotiations. A $500 million government rescue package proposed by the Trump administration was ultimately rejected by Spirit's major creditors, including Citadel, Cyrus Capital, and Ares Management, who submitted a counterproposal favoring investor terms instead. With no deal in place, Spirit began winding down operations, marking the end of 34 years of service.
"Let's Just Buy It" — How the Campaign Began
Within hours of the shutdown announcement, TikTok and YouTube creator Hunter Peterson posted a video laying out an unconventional pitch. His argument: the United States has more than 250 million adults over the age of 18. If just 20% of them contributed roughly the average price of a Spirit Airlines ticket — around $30 to $40 — the public could collectively acquire the airline.
Peterson, who had previously gone viral in August 2025 for flying Spirit Airlines for 24 hours straight, framed the campaign as a chance for "passengers, workers, and the communities Spirit served" to take the airline back before private equity firms moved in.
After his original TikTok video gained nearly 2.8 million views, Peterson launched letsbuyspirit.com on Saturday, May 3, to begin collecting formal pledges.
Nearly $23 Million in Pledges — Then the Site Crashed
The response overwhelmed expectations.
- Total pledges recorded: approximately $22,816,377
- Number of participants: 36,605 (listed as Founding Patrons)
- Average pledge per person: $623
- Minimum pledge amount: $45 (matching the average one-way Spirit fare)
Peterson's original TikTok video accumulated close to 3 million views, and his newly created Instagram account @spiritair2.0 quickly attracted over 100,000 followers. The campaign website itself crashed on Sunday afternoon due to sheer traffic volume. The site displayed a notice reading: "Your response crashed our site. The movement grew so fast it overwhelmed our servers. We are upgrading infrastructure right now and will be back with full pledge functionality within 24-48 hours." By later that day, the site had gone entirely offline.
Google Search Volume
| Country | Search Volume |
|---|---|
| 🇺🇸 United States | 200,000+ searches |
According to Kiolix Pulse data, U.S. searches for "let's buy spirit com" and related keywords exceeded 200,000 within a short window. Related search terms surging alongside it include buy spirit airlines, delta airlines spirit airlines, lets buy spirit, and letsbuyspirit.
The Proposed Ownership Model: The Green Bay Packers Blueprint
The campaign's proposed structure draws directly from the NFL's Green Bay Packers, the only community-owned franchise in major American professional sports. Key elements of the model include:
- Every verified contributor receives one equal vote on major decisions, regardless of pledge size
- Profit-sharing dividends distributed among members
- No single individual or institution holds a controlling stake
Organizers have branded the initiative "Spirit 2.0" and describe the airline as "The People's Carrier," arguing that the disappearance of ultra-low-cost air travel disproportionately harms budget-conscious travelers and lower-income communities who relied on Spirit's network.
Significant Hurdles Remain
Aviation analysts and financial observers point to several major obstacles standing between the campaign's current momentum and an actual airline acquisition.
The funding gap: Spirit Airlines sought a $500 million bailout simply to remain operational. A Louisiana-based investor group called NewP3, led by businessman John Miller, had proposed a $1 billion private capitalization of Spirit earlier this year — a bid that never materialized. The campaign's total pledges represent a small fraction of what a credible acquisition would require.
FAA certification: Obtaining a Federal Aviation Administration Air Operator's Certificate is not a quick process. Aviation analysts note it can take years and tens of millions of dollars. Spirit's existing certificate cannot be transferred to a new operator without regulatory approval and creditor consent.
Historical precedent: Community-owned airline experiments have been tried before with limited success. Kiwi International Air Lines, founded in 1992 by furloughed Eastern Airlines employees who pooled their savings, raised roughly $9 million of its $17 million startup capital from workers. It filed for bankruptcy in 1996 and was liquidated by 1999. United Airlines' 1995 employee stock ownership plan collapsed by 2003, and earlier experiments at People Express and Lake Central Airlines ended with absorption by larger carriers.
Where Things Stand Now
As of publication, letsbuyspirit.com remains offline while server infrastructure is being upgraded. Peterson is directing supporters to the Instagram account @spiritair2.0 for updates. He has explicitly asked followers not to send money to personal accounts, and no official payment channel has been opened. Peterson's Instagram bio now reads: "Get in losers, we're buying spirit. Voice Actor, Future Airline CEO."
Whether the campaign evolves into a serious acquisition bid or remains a viral moment of collective frustration with airline industry consolidation, it has already drawn national attention to the gap left by Spirit's sudden closure.
Sources
- BroBible: Man Raises $23 Million To Buy Spirit Airlines With 'LetsBuySpirit.Com' Website
- Moneywise: TikToker's Spirit Airlines crowdfund reportedly hits $26M
- Simple Flying: Movement To Restart Spirit Airlines Reaches $22 Million In Pledges
- Yahoo News: A TikTok creator's plan to crowdfund Spirit Airlines hit nearly $23 million in pledges before the site crashed
- Dexerto: YouTuber crowdfunds $22m in attempt to buy Spirit Airlines after it shut down overnight
- Daily Kos: Let's buy Spirit!
Kiolix Pulse Trend Data
This article was written using real-time trend intelligence from Kiolix Pulse (https://trend-now.org). For a detailed view of search interest around this topic, visit the link below.
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