"Spirit 2.0: Owned by the People" campaign raises $23 million in non-binding pledges—but experts say buying the airline would require billions.
Spirit Airlines ceased operations on Saturday, canceling all flights and laying off approximately 17,000 employees. Following the shutdown, a crowdfunding campaign initiated by voice actor Hunter Peterson proposed a public acquisition of the airline, attracting non-binding pledges from over 36,000 individuals totaling approximately $23 million.
Campaign Details
Peterson launched the initiative, titled "Spirit 2.0: Owned by the People," via TikTok, Instagram, and a dedicated website on the day of the airline's shutdown. The proposal called for 20% of American adults to contribute the price of a typical Spirit fare—estimated at $30–$40 each—to collectively purchase the airline. Peterson stated the idea began as a joke but gained traction.
As of Sunday, the campaign's website reported 36,605 "founding patrons" had pledged a combined $22.8 million–$23 million. Peterson acknowledged the pledged amount is insufficient for acquiring an airline, which costs billions, and requested assistance from aviation and legal professionals.
"The idea started as a joke," Peterson said, "but the response has been overwhelming."
Pledge Structure
Peterson stated that all pledges are non-binding and that no money has been collected. Participants registered their intent only. Peterson indicated he is consulting a lawyer and declined to speak with media until a plan is established. He has designated himself as potential CEO of the new entity and stated that voting power would be reserved for pledgers.
Website Status
The campaign website, built using an AI tool, appeared to be offline by Sunday afternoon. A notice on the site stated that the response overwhelmed its servers and that it would return within 24–48 hours. Peterson acknowledged the crash in a video, noting he built the site quickly and is seeking developer assistance.
Acquisition Feasibility
The $23 million pledged represents a small fraction of the cost to acquire Spirit Airlines. Peterson's stated goal is $1.7 billion. For context, investor group NewP3 previously proposed $1 billion for the airline, and in 2022 JetBlue attempted to acquire Spirit for approximately $3.8 billion. Acquiring an airline also requires Federal Aviation Administration (FAA) certification and regulatory approval.
Historical examples of community-owned airlines, such as Kiwi International Air Lines, ended in bankruptcy or acquisition. The campaign's model is inspired by the Green Bay Packers, the only publicly owned, nonprofit NFL team.
Shutdown Context
Spirit Airlines operated for 34 years as an ultra-low-cost carrier. It ceased operations after a period of layoffs, furloughs, bankruptcy, and a failed $500 million federal bailout request. The shutdown affected approximately 17,000 employees and stranded passengers.
United Airlines and American Airlines have offered price-capped tickets for affected travelers on overlapping routes.