JetBlue, Frontier Shares Surge on Spirit Shutdown

JetBlue Airways shares rose about 7.4% and Frontier Airlines climbed roughly 8.8% after WSJ reported Spirit Airlines plans to cease operations.
The WSJ article said Spirit's expected rescue deal with the U.S. government collapsed, leaving the carrier without a bailout.
Bondholders also rejected the proposed rescue plan, further diminishing prospects for Spirit's survival.