Why airlines are always going bankrupt

All photos by Mike Kelley from his “Life Cycles” seriesIt might not be the most important story in the world right now, as our species takes its first halting steps into a brave new world of technological power whose contours are still to us mysterious and weighted with fearful portent, but lately I’ve been spending a good bit of time reading about the death of Spirit Airlines. Spirit, for those lucky enough to have never flown on one of its planes—I have a few memories of terrible Spirit flights from New York to Miami in my teenage years—is, or rather was, one of the ten or so largest airlines in the United States, and, after its more popular rival Southwest, the most prominent of the budget airlines. (JetBlue is somewhat larger, but can’t be considered a “true” budget airline.) And, for the last few years, Spirit had been hurtling toward insolvency.Spirit had last turned a profit in 2019; things turned disastrously bad with the COVID pandemic in 2020—as was the case for every other…