"Hunter Peterson, a 22-year-old voice actor, proposed a crowdfunding initiative to save Spirit Airlines, suggesting that if 20% of U.S. adults contributed $30 to $40, it could raise enough funds to save the airline."
"The crowdfunding site letsbuyspirit.com quickly gained traction, claiming $132 million in pledges from over 156,000 people, with a target raise of $1.75 billion."
"The site frames its initiative as a community effort against private equity, stating that 'the passengers, the workers, and the communities Spirit served can take it back.'"
"Spirit Airlines is dissolving and informed the bankruptcy court that it lacks sufficient cash to conduct an organized auction of its aircraft and engines."
Spirit Airlines is undergoing bankruptcy proceedings, with aircraft lenders repossessing its planes. A viral TikTok by Hunter Peterson proposed a crowdfunding initiative to save the airline, suggesting that if 20% of U.S. adults contributed $30 to $40, it could raise enough funds. The crowdfunding site, letsbuyspirit.com, quickly gained traction, claiming $132 million in pledges from over 156,000 people. The initiative frames itself as a community effort against private equity, despite the reality that private equity is not responsible for Spirit's financial troubles.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]