A TikTok creator's plan to crowdfund Spirit Airlines hit nearly $23 million in pledges before the site crashed
Yahoo • • general
Key Points:
- A TikTok campaign to collectively buy bankrupt Spirit Airlines, launched by voice actor Hunter Peterson, has attracted over 36,000 pledges totaling approximately $22.8 million, overwhelming its website by Sunday afternoon.
- Peterson envisions a community-owned airline where each participant has equal voting rights regardless of contribution size, aiming to avoid private equity control and run the airline "on behalf of the people."
- The campaign currently collects non-binding pledges rather than actual funds, with Peterson clarifying no money has been taken and the website is being rebuilt after crashing due to high traffic.
- Experts note that acquiring an airline involves complex regulatory approvals and substantial capital far exceeding the campaign's pledged amount, with previous employee or community-owned airline attempts often ending in bankruptcy or absorption.
- Peterson has sought legal and aviation expertise to advance the project but has declined media interviews until consulting with his lawyer and formulating a clear plan.
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