Magnicharters, a budget airline based in Mexico, has filed for bankruptcy protection in the First District Court in Mexico City. The filing comes after the airline grounded all flights last month, initially stating that the suspension would last only two weeks. However, operational issues, including the inability to cover costs for maintenance and staff training, led to the revocation of its Air Operator Certificate. As of now, the airline's website shows no available flights, directing customers to a helpline for inquiries. This situation mirrors the recent collapse of Spirit Airlines, which ceased operations after struggling with financial difficulties and filing for bankruptcy twice in two years. Spirit Airlines, once valued at $5.5 billion, had made efforts to cut costs and maintain operations but ultimately failed to recover. CEO Dave Davis expressed disappointment over the closure, highlighting the airline's commitment to affordable travel for over 30 years. The closure of these airlines raises concerns about the availability of low-cost travel options for consumers.