Budget carrier Spirit Airlines officially shut its doors Saturday, laying off its employees and cancelling all flights after rising fuel costs pushed the struggling company over the brink. The price of jet fuel has spiked since the American–Israeli war on Iran started in late February, leaving Spirit—which had already declared bankruptcy twice in less than two years—unable to sustain its business operations. “The sudden and sustained rise in fuel prices in recent weeks ultimately has left us with no alternative but to pursue an orderly wind-down of the Company,” CEO Dave Davis said in a statement released Saturday. Davis added...