South Florida-based Spirit Airlines may be forced to liquidate due to surging fuel costs, reports say

The end of South Florida-based Spirit Airlines could be near after multiple news outlets report that the low-cost airline could be forced to liquidate its assets due to skyrocketing fuel prices.

The fuel price hikes could really be the final straw for the Dania Beach-based carrier, according to the Wall Street Journal and other news outlets, which say that Spirit Airlines could liquidate as soon as this week.

" Adding in this fuel crisis could be the dagger to Spirits, kind of emerging from bankruptcy, "said travel expert Zach Griff with "From the Tray table"  online newsletter.

'If I'm buying a ticket for, you know, August, late summer, even early summer, at this point, I would definitely be careful. Be careful, and make sure you have a good backup plan if you do do that," Griff said.

But If the airline does liquidate, Griff says there are plenty of other airlines looking to jump in.

"What they give up in Fort Lauderdale will be quickly chopped up, likely by JetBlue, just because they're the bigger airline. But, but, you know, some of these others, United Allegiant, they're, they're always looking to grow in Fort Lauderdale," Griff said.

Spirit Airlines had been facing financial challenges for years

Spirit Airlines operates more than 500 daily flights to more than 60 destinations, including at Fort Lauderdale-Hollywood International Airport and Miami International Airport.

The budget airline has been facing financial headwinds for several years. The airline has been trying to recover from its second bankruptcy in less than a year.

Now, it's facing the added challenge of the spike in fuel prices.

Recently, pilot and flight attendant unions made concessions to help Spirit Airlines survive. The airline was also trying to bring in higher-spending customers with bigger seats and bundled fares to compete with rival airlines.

Spirit Airlines had also been downsizing its fleet and pulling routes in an attempt to get back on track.

Passengers left wondering how they would be impacted if Spirit Airlines dissolves

Passengers said they were feeling uneasy hearing that the low-cost airline may soon dissolve.

"It's affordable and it's always available so if they would close down, it would definitely affect any travel plans of mine," said Jorvan Jonbaptist, who was traveling to North Carolina on Spirit on Thursday.

Jonbaptist said he has a return flight on Spirit next week and is now worried that it could be impacted.

"We have points and credits and silver elite members in the U.S. so yeah, it could be an issue," said Ken Pryor. "That's distressing. Wonderful news to hear on the way of flying out."

Pryor said he was flying to Boston on Thursday morning, which is a trip he makes from Miami International Airport every few weeks.