finance
Spirit Airlines Files for Bankruptcy, Seeks $500M Aid
The Trump administration is close to finalizing a $500 million bailout deal for Spirit Airlines, which has filed for bankruptcy twice. President Trump confirmed the government could provide a rescue package or buy the carrier outright. Critics including Kevin O’Leary called the plan a 'really bad idea,' emphasizing that capitalism requires failing companies to exit the market.
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Spirit Airlines is nearing a $500 million bailout deal with the Trump administration to save the struggling airline after it filed for bankruptcy twice. President Trump confirmed the government could provide a rescue package for Spirit Airlines or buy the carrier outright. Trump floated the possibility of a bailout on Thursday.
Washington Examiner economics columnist Tiana Lowe said there isn’t a 'good way' to save Spirit Airlines from being forced out of business without government intervention. O’Leary said 'Capitalism works because the losers die' during a Thursday appearance on NewsNation.
The potential intervention follows Spirit Airlines' cash constraints, with Trump stating the government could step in to rescue or acquire the carrier.
