Trump says Spirit Airlines deal still possible after report $500M bailout fell apart

Spirit Airlines is preparing to shutter operations after a $500 million bailout deal with the Trump administration fell apart, according to a report Friday. The embattled budget airline has so far been unable to secure enough funding from the government and certain bondholders to keep it in business, the Wall Street Journal reported Friday, citing sources familiar with the matter.“If we could do it, we’d do it, but only if it’s a good deal,” President Trump told reporters Friday at the White House, saying an announcement could come later Friday or the following day.“I’d like to save the jobs,” he added.“If we can help them, we will.

But we have to come first.We’re first.”Spirit has been in talks with the Trump administration about a deal that would hand the government a stake of up to 90% in exchange for a major cash boost – potentially allowing the White House to use part of the bankrupt carrier’s fleet for military missions, according to CBS News.But the deal was reportedly facing an uphill battle, as some members of the Trump administration fought over how to fund the bailout – and whether they should back it all – and some Spirit bondholders opposed the help altogether. A spokesperson for Spirit declined to comment on “ongoing discussions.”The White House did not immediately respond to The Post’s request for comment.Trump previously said he would like someone to acquire the struggling airline, saying it was possible the government could get involved – signaling his latest interest in getting the White House involved in the private sector.But United Airlines and American Airlines quickly swooped in Friday to say that they were preparing to support Spirit customers if the rival carrier shuts down.United Airlines CEO Scott Kirby has shared doubts about whether a government bailout for Spirit would be enough to save the flailing budget airline.Kirby called Spirit “an interesting experiment” that has “failed,” adding th...