Hassett says talks of Spirit bailout are ‘ongoing’
National Economic Council Director Kevin Hassett confirmed that ongoing talks are taking place between the Trump administration, Spirit Airlines, and its creditors regarding a potential federal bailout. The proposed plan includes a $500 million government loan in exchange for warrants equal to 90% of the airline's equity, as Spirit struggles with debt and high fuel costs. Spirit's bankruptcy restructuring plan faces lender opposition and uncertainty remains over whether a deal will be reached to sustain operations.
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A top Trump administration official said talks over a possible federal rescue of Spirit Airlines are “ongoing” on Thursday, as the struggling budget carrier faces mounting financial strain and uncertainty about its future. National Economic Council Director Kevin Hassett confirmed that negotiations are underway between the government, lenders, and other stakeholders. Recommended Stories OxyContin maker Purdue Pharma set to dissolve after judge approves sentence Musk warns against ‘Terminator outcome’ in OpenAI testimony: ‘It could kill us all’ GM bests Wall Street expectations with incoming $500 million tariff refund “Those are ongoing negotiations with the Commerce Department and the creditors,” Hassett told reporters at the White House when asked about the possibility of a bailout.
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