Airline Facing Collapse as $500 Million Trump Deal Falls Apart

Posted 2 hours ago by

The Daily Beast

MIKE BLAKE / REUTERSSpirit Airlines is preparing to shut down after a proposed 500 million government rescue deal fell through.The budget airline hoped to secure a lifeline from President Donald Trump’s administration, but that is now off the cards, according to The Wall Street Journal, citing people familiar with the matter. The deal would have provided a cash infusion that would have converted into a stake of up to 90 percent, but it couldn’t secure enough support from the government and key bondholders.