Spirit airlines is engaged with the Trump administration about a potential bailout after being warned it may be in default with its creditors and could have only days left to operate. File Photo by Bill Greenblatt/UPI | License Photo
April 24 (UPI) -- The Trump administration is working on a bailout of Spirit Airlines, which is in bankruptcy for the second time in a year, to keep it from shutting down.
President Donald Trump said several times this week that the government may get involved in the situation -- specifically highlighting his concerns about jobs and the airline industry -- after increases in jet fuel cost made the airline's situation even worse, CNBC and USA Today reported.
Spirit has not commented on the bailout negotiations, which would have to be approved by its creditors, but the administration has offered Spirit a $500 million loan, with the government receiving the right to own 90% of the company when it exits bankruptcy, CBS News reported.
"We're thinking about doing it, helping them out, meaning bailing them out, or buying it," Trump said on Thursday.
