The Trump administration is preparing a financial rescue package for the struggling budget carrier Spirit Airlines, also known as Spirit Aviation Holdings Inc. The administration is currently negotiating a deal that would provide up to $500 million to the ailing company.
The Florida-based discount carrier has filed for Chapter 11 bankruptcy twice in under a year. In an effort to recover, Spirit has restructured, sold off aircraft, and raised ticket prices, though the airline has continued to struggle with surging jet fuel prices.
These negotiations come after President Trump publicly stated he wanted his administration to consider a rescue package. While the deal has not yet been finalized, it would reportedly give the government warrants to purchase Spirit stock.