Report: U.S. airline Spirit Airlines may begin liquidation as early as this week.

According to informed sources, the American budget airline Spirit Airlines has experienced its second bankruptcy in less than a year and has been struggling to recover. It is now facing additional challenges due to soaring fuel prices. Fuel is the second largest expense for airlines after labor. The airline stated in a statement: "We do not comment on market rumors and speculation." It is not yet clear the exact date when the airline will begin liquidation. At the same time this news has come out, the US airline industry, including Spirit Airlines based in Florida, is preparing to end the busy spring break season.