Introduction

Let’s Buy Spirit  started as an unexpected internet campaign after Spirit Airlines stopped operating in May 2026. What began as a viral idea quickly developed into a public fundraising and community-ownership movement centered on the possibility of bringing the airline back.

Spirit Airlines announced an immediate wind-down of operations on May 2, 2026. The company canceled all flights and said that rising oil prices and other financial pressures had significantly affected its outlook. Spirit also said it had no additional funding available to continue operations.

Soon afterward, content creator Hunter Peterson proposed an unusual alternative: instead of allowing the airline or its assets to disappear, why not try to acquire it through public support?

The idea spread rapidly across social media. Thousands of people expressed interest, while online pledge totals grew from millions to hundreds of millions of dollars in reported commitments. Those figures represented pledges rather than money actually collected, an important distinction when evaluating the campaign.

The original acquisition plan ultimately did not happen. By June 2026, Peterson’s group had decided not to continue pursuing the purchase, and the project later evolved into a proposal for a completely new airline.

Today, the project is associated with First Jet, which describes itself as an effort to build an airline owned by the people who fly it.

This article explains the entire journey, from the original Let’s Buy Spirit idea to the current First Jet concept.

Quick Answer: What Was Let’s Buy Spirit?

Let’s Buy Spirit was a grassroots online campaign created after Spirit Airlines ceased operations in May 2026.

The campaign proposed using public financial support to acquire or revive the airline and create a community-backed version sometimes referred to as Spirit 2.0.

Hunter Peterson became the public face of the movement after posting a video suggesting that ordinary travelers could collectively help purchase the airline. The concept attracted substantial online attention and generated large reported pledge totals.

However, the campaign did not ultimately purchase Spirit Airlines.

By June, the group decided not to proceed with the acquisition effort. Later communications shifted the project toward creating a new airline from the ground up.

Let’s Buy Spirit at a Glance

What Was Let’s Buy Spirit?

Let’s Buy Spirit was an online movement built around a simple question: Could ordinary travelers collectively buy an airline?

The campaign appeared shortly after Spirit Airlines announced that it would wind down its operations.

Rather than accepting the shutdown as the end of the Spirit brand, Hunter Peterson suggested that travelers could organize themselves as potential buyers.

The concept borrowed some inspiration from community ownership models. The Green Bay Packers, for example, have a distinctive public ownership structure, and that model became part of the discussion surrounding the campaign.

Peterson’s proposal was not a conventional airline acquisition backed by a single corporation.

Instead, the idea centered on a large community of supporters contributing toward a potential transaction.

That unusual structure helped the campaign attract attention well beyond traditional aviation circles.

Why Did Spirit Airlines Shut Down?

Understanding the campaign requires understanding what happened to Spirit first.

Spirit Airlines announced on May 2, 2026, that it had begun an orderly wind-down of operations. Every scheduled Spirit flight was canceled, and the company told passengers not to go to the airport.

The company said its financial position had been affected by a material increase in oil prices along with other business pressures.

Spirit had already been dealing with significant financial difficulties and restructuring efforts before the shutdown.

According to the company’s official restructuring website, there was no remaining customer call center or general customer-service email after the wind-down. Refund and claims matters were directed through the bankruptcy process.

That sudden disappearance created the environment in which the Let’s Buy Spirit campaign emerged.

Who Started Let’s Buy Spirit?

Hunter Peterson became the main public figure associated with Let’s Buy Spirit.

Peterson is a content creator and voice actor who used social media to introduce the idea of collectively attempting to purchase the airline.

His initial proposal was intentionally simple.

Instead of presenting a detailed corporate acquisition plan, he asked whether a large number of ordinary people could contribute relatively small amounts toward a shared goal.

The concept resonated with people who had flown Spirit and were familiar with its ultra-low-cost business model.

Media coverage from NBC 6 South Florida identified Peterson as the creator behind the campaign and reported that his initial social-media proposal quickly attracted widespread attention.

How Did the Campaign Become Viral?

Timing played a major role.

Spirit had just ceased operations, meaning millions of travelers were suddenly discussing what had happened to the airline.

Peterson’s idea offered an unconventional alternative: what if the passengers themselves tried to bring it back?

Social media gave the concept an immediate distribution channel.

A proposal that might have required weeks of traditional publicity instead reached large audiences within days.

The campaign’s website also experienced heavy traffic. Reports said the site temporarily struggled under the volume of visitors interested in making pledges.

Interest extended beyond aviation enthusiasts.

Travelers, Spirit customers, social-media users and people interested in community ownership all became potential supporters.

That combination helped transform a social-media idea into a widely discussed business proposal.

How Much Money Was Pledged?

The reported pledge totals changed rapidly during the campaign.

Early reports showed tens of thousands of people pledging approximately $22.8 million.

By May 7, the Economic Times reported that the campaign’s website had displayed more than 247,000 pledges totaling approximately $214 million.

Those numbers should be interpreted carefully.

They were pledged amounts, not verified capital sitting in a bank account.

The campaign itself treated the pledges as expressions of interest rather than completed investment transactions.

Consequently, saying that Let’s Buy Spirit “raised $214 million” would be misleading. A more accurate description is that the campaign reported approximately $214 million in pledges at one point.

Were the Pledges Actual Money?

No.

This distinction is one of the most important facts about the campaign.

A pledge indicates that someone expressed an intention to contribute a particular amount under proposed conditions. It does not necessarily mean that the person transferred that money.

Early coverage explicitly reported that no money had been collected when the pledge system became popular.

The difference matters because acquiring and operating an airline requires substantial committed capital.

Even hundreds of millions of dollars in non-binding pledges would not automatically provide the financing necessary to complete an acquisition.

Regulatory requirements, transaction terms, aircraft assets, airport rights, employees, operating authority and ongoing working capital would all have to be addressed separately.

What Was Spirit 2.0?

Spirit 2.0 was the informal concept associated with the proposed revival of Spirit Airlines under a new ownership model.

The vision focused on creating a more community-oriented airline rather than simply restoring the previous corporate structure.

Supporters discussed ideas such as:

• Community ownership
• Public participation
• Affordable air travel
• Traveler involvement
• Employee participation
• A new approach to airline economics

The exact structure evolved as the campaign developed.

Importantly, Spirit 2.0 never became a fully operating airline.

The term mainly described the proposed revival concept associated with the Let’s Buy Spirit movement.

Did Let’s Buy Spirit Actually Buy Spirit Airlines?

No.

The campaign did not complete an acquisition of Spirit Airlines.

By June 2026, Peterson announced that the group would not continue pursuing the purchase. TravelPulse reported that the campaign had not reached the $5 million amount it needed to make a bid before the applicable deadline and that changes surrounding the bankruptcy process and fundraising approach contributed to the decision.

That means several common descriptions of the campaign need to be separated:

“Let’s Buy Spirit” describes the original acquisition movement.

“Spirit 2.0” describes the proposed revived-airline concept.

“First Jet” represents the later effort to build a new airline rather than acquire Spirit.

Those are related stages of the same broader project, but they are not interchangeable.

Why Did the Acquisition Plan End?

Buying an airline is considerably more complicated than collecting public interest.

The bankruptcy process created legal and financial constraints around Spirit’s assets.

A potential buyer would need to understand which assets remained available, what liabilities were involved and what approvals were necessary.

Aircraft and airport assets also do not automatically create an operating airline.

An airline needs appropriate regulatory authority, operational infrastructure, safety systems, qualified personnel, aircraft arrangements and significant working capital.

TravelPulse reported that Peterson’s group ultimately decided not to continue fundraising for the acquisition after developments in Spirit’s bankruptcy and the proposed fundraising process.

The decision effectively ended the original Let’s Buy Spirit acquisition strategy.

What Happened to Spirit’s Assets?

Spirit’s shutdown did not mean that every asset simply remained available for one buyer to purchase as a package.

The liquidation and bankruptcy process involved different assets and potential buyers.

That fragmented environment made the original idea of simply buying “Spirit Airlines” much more complicated.

A potential new airline could not necessarily obtain everything needed to restart the previous carrier in the same form.

This was one reason the project eventually shifted away from acquiring the existing airline.

What Is First Jet?

First Jet is the new airline concept that emerged from the Let’s Buy Spirit movement.

Its official website says the project began with the idea of buying Spirit but changed direction in June 2026 after the team walked away from the acquisition. The organization now says it wants to build an airline from the ground up.

The proposed model focuses on people who fly the airline becoming part of its ownership structure.

First Jet describes the concept as an airline “for the people who fly it.” Its website proposes one vote per person regardless of investment size.

The project’s current public materials describe the airline as being in development rather than operating scheduled passenger flights.

That distinction is important.

First Jet is a proposed new airline, not a revived Spirit Airlines operating under a different name.

How Is First Jet Different From Spirit 2.0?

The biggest difference involves the underlying strategy.

Spirit 2.0

The original concept focused on acquiring or reviving Spirit Airlines.

First Jet

The current project focuses on building a new airline from the ground up.

First Jet’s official website explicitly describes this change, saying the team walked away from purchasing Spirit in June and decided to build something new instead.

The project’s LinkedIn profile communicates the same transition and identifies First Jet as an aviation company founded in 2026.

That evolution means readers should be careful with older articles or social-media posts that still describe the project exclusively as an attempt to purchase Spirit.

How Could a Community-Owned Airline Work?

The proposed First Jet model centers on the idea that passengers could have an ownership role.

Under the concept presented on First Jet’s website, each person would have one vote regardless of investment size. The company also describes a system in which frequent travelers could potentially receive benefits from their participation.

Such a structure would differ from a traditional airline controlled primarily by a small group of shareholders or private investors.

The precise corporate, securities and regulatory structure remains important.

First Jet’s current website says Reg CF and Reg D investment opportunities are coming, indicating that investment mechanisms are being developed rather than representing a completed public offering.

Anyone considering a future investment should review the actual offering documents and regulatory filings rather than relying on social-media descriptions.

What Challenges Would a New Airline Face?

Starting an airline from scratch presents challenges that go far beyond attracting customers.

Regulatory Approval

Commercial aviation operates under extensive federal safety and operational requirements.

Aircraft

A new carrier needs access to suitable aircraft through purchases, leases or other arrangements.

Airport Access

Routes require appropriate airport arrangements, gates, slots where applicable and operational support.

Employees

Pilots, flight attendants, maintenance professionals, dispatchers and ground personnel are all essential.

Maintenance

Aircraft require extensive scheduled and unscheduled maintenance.

Technology

Reservation systems, payment systems, customer service tools, crew scheduling and operational technology all need to work together.

Fuel

Jet fuel represents a major operating expense and can create significant exposure to market fluctuations.

Capital

Airlines require substantial funding before revenue reaches a stable scale.

Safety

A new airline must establish systems and procedures that satisfy applicable aviation safety requirements.

These factors explain why a large online community does not automatically translate into an operational airline.

Is Let’s Buy Spirit Still Active?

The original  Let’s Buy Spirit  acquisition campaign is no longer pursuing the purchase of Spirit Airlines.

The project’s current direction is represented by First Jet and the broader “Let’s Build An Airline” concept.

First Jet’s official website says the team walked away from purchasing Spirit in June and is now focused on building an airline from scratch.

An August 2026 report also described the transition from Let’s Buy Spirit to Let’s Build An Airline after the acquisition effort failed to secure Spirit assets.

Therefore, readers searching for “Let’s Buy Spirit” today may encounter older campaign information alongside newer First Jet material.

Checking the publication date is particularly important.

Frequently Asked Questions

What is Let’s Buy Spirit?

Let’s Buy Spirit was a grassroots campaign launched after Spirit Airlines ceased operations in May 2026. It sought public support for a possible acquisition or revival of the airline.

Who started Let’s Buy Spirit?

Hunter Peterson, a content creator and voice actor, became the primary public figure behind the campaign. His social-media proposal attracted significant attention after Spirit’s shutdown.

Did Let’s Buy Spirit buy Spirit Airlines?

No. The campaign did not complete the acquisition of Spirit Airlines. The group later abandoned the purchase effort and shifted toward creating a new airline.

How much money did Let’s Buy Spirit raise?

The campaign reported very large pledge totals, including approximately $214 million at one point. Those figures were pledges rather than verified funds actually collected.

What is Spirit 2.0?

Spirit 2.0 was the proposed concept of reviving Spirit under a new, community-oriented ownership structure. It did not become an operating airline.

What is First Jet?

First Jet is the new airline project that grew out of the Let’s Buy Spirit movement. Its stated goal is to build a new airline rather than purchase Spirit Airlines.

Is First Jet operating flights?

Current public information describes First Jet as an airline project under development. Its website says the project is building the airline and lists future investment opportunities rather than presenting it as an established operating carrier.

Is First Jet the same company as Spirit Airlines?

No. First Jet is a separate proposed airline project. Spirit Airlines ceased operations on May 2, 2026.

Can people invest in First Jet?

First Jet’s current website says Reg CF and Reg D investment opportunities are coming. Anyone considering an investment should wait for and review the applicable offering documents, terms and regulatory information before committing funds.

Why did Let’s Buy Spirit become popular?

The campaign appeared immediately after Spirit’s shutdown and presented a simple, unusual idea: travelers could potentially organize themselves to support an airline. Social-media sharing helped the proposal spread rapidly.