Trump Proposes $500 Million Bailout for Spirit Airlines Amid Shutdown Threat
Trump gives Spirit Airlines 'final' proposal as beleaguered carrier prepares to shut down
Fox Business
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President Donald Trump announced a final bailout proposal for Spirit Airlines, offering $500 million to help the struggling carrier. The airline is reportedly preparing to cease operations due to failed negotiations with bondholders. The administration's proposal includes warrants for 90% equity in the airline.
- 01Trump's administration proposed a $500 million bailout for Spirit Airlines.
- 02The proposal includes warrants for 90% of the airline's equity.
- 03Disagreements among bondholders and within the administration have hindered negotiations.
- 04Spirit Airlines is preparing to shut down if a deal is not reached.
- 05Trump expressed a desire to save jobs through the bailout.
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President Donald Trump has put forth a final bailout proposal for Spirit Airlines, offering $500 million in financing as the airline faces imminent shutdown. The proposal includes warrants that would give the government 90% equity in the airline. Reports indicate that Spirit is preparing to cease operations due to failed negotiations between certain bondholders and the government. Disagreements within the Trump administration have complicated the funding discussions, with not all bondholders agreeing to the terms. Trump has previously stated his interest in helping the airline, emphasizing the importance of securing a deal that would save jobs. An announcement regarding the proposal is expected soon.
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The bailout could potentially save jobs at Spirit Airlines, which is crucial for employees and their families.
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