President Donald Trump said the government could bail out Spirit Airlines, or buy the carrier, and then sell it. A lawyer representing major bondholders confirmed in court Thursday that they had received a term sheet for the potential government bailout.
The Trump Administration is ready to bailout bankrupt Spirit Airlines. The idea should be grounded.
Spirit's lawyer said the company needs access to existing cash or new funding in the next few days to continue operations. The budget airline is in talks with the Trump administration for a possible rescue package, the lawyer confirmed at a U.S. bankruptcy court hearing.
Transportation Secretary Sean Duffy and Commerce Secretary Howard Lutnick discussed the pros and cons of a deal with President Trump.
Shares of Spirit Airlines soared Wednesday following reports the Trump administration is nearing a deal to save the bankrupt budget carrier from insolvency.
The Trump administration is in advanced talks for a financing package for Spirit Airlines as the carrier is facing the risk of a liquidation, according to people familiar with the matter.
George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, breaks down the latest earnings from Boeing and United Airlines. He also reacts to news that the US government is close to a rescue package for Spirit Airlines.
Ailing Spirit Airlines was hoping to emerge from bankruptcy in the next few months. The government may lend it a helping hand sooner.
A deal would see the U.S. government receive the option to take a stake in Spirit, The Wall Street Journal reports.
The government will lend Spirit as much as $500 million in exchange for warrants to take a potential stake in the carrier, according to the report.
The Trump administration is nearing a potential rescue package for Spirit Airlines, as it faces mounting financial pressure and the risk of liquidation. The Wall Street Journal reported the development, citing people familiar with the matter, that the US government is in advanced discussions to provide Spirit with up to $500 million in financing.
The Trump administration is in advanced talks for a financing package for Spirit Airlines, according to a person familiar with the matter. Spirit had been facing a potentially imminent liquidation, people familiar with the matter told CNBC last week.