\n<\/p>\n
The White House is finalizing a financing package to help ailing US budget carrier Spirit Airlines, which could receive as much as $500m in loans as rising costs continue to plague the company.<\/p>\n
News of the potential deal comes as Spirit and others struggle with soaring fuel costs due to the war with Iran.<\/p>\n
Donald Trump said he\u2019s aware that the company is struggling and hinted that federal aid could come. \u201cSpirit\u2019s in trouble, and I\u2019d love somebody to buy Spirit. It\u2019s 14,000 jobs, and maybe the federal government should help that one out,\u201d Trump told CNBC on Tuesday.<\/p>\n
Spirit has spent the last few years dealing with financial troubles, filing for bankruptcy twice in the last two years as the company struggled to bring in revenue amid higher costs. Reports from earlier this month suggested Spirit was close to liquidation and was holding talks with its creditors.<\/p>\n
In return for the cash buffer, the federal government would receive warrants for a potential stake in the airline, according to the Wall Street Journal, citing sources familiar with the matter.<\/p>\n
A $3.8bn merger between Spirit and JetBlue was blocked by a federal judge on antitrust grounds in 2024. The deal would have saved the company, but the judge who stopped it said that the merger would harm consumers by reducing competition.<\/p>\n
In a statement, White House spokesperson Kush Desai didn\u2019t comment on the ongoing financing deal but said that the Biden administration had harmed the company.<\/p>\n
\u201cSpirit Airlines would be on a much firmer financial footing had the Biden administration not recklessly blocked the airline\u2019s merger with JetBlue,\u201d Desai said. \u201cThe Trump administration continues to monitor the situation and overall health of the US aviation industry that millions of Americans rely on every day for essential travel and their livelihoods.\u201d<\/p>\n
Spirit Airlines did not immediately respond to request for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"
The White House is finalizing a financing package to help ailing US budget carrier Spirit Airlines, which could receive as much as $500m in loans as rising costs continue to plague the company. News of the potential deal comes as Spirit and others struggle with soaring fuel costs due to the war with Iran. Donald<\/p>\n","protected":false},"author":1,"featured_media":48656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[3200,794,19534,1202,1083,696,671,6312,10140,81,2168],"class_list":{"0":"post-48655","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-500m","9":"tag-administration","10":"tag-ailing","11":"tag-airlines","12":"tag-close","13":"tag-deal","14":"tag-house","15":"tag-rescue","16":"tag-spirit","17":"tag-trump","18":"tag-white"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/48655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48655"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/48655\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/48656"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}