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Spirit Airlines appears closer to shutdown as time dwindles for government bailout
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....pirit Airlines appears closer to shutdown as time dwindles for government bailout<BR>Corp. Laws / SEBI / IBC<BR>Dated:- 2-5-2026<BR>PTI<BR>West Palm Beach, May 2 (AP) Cash-strapped Spirit Airlines appeared closer to a shutdown after Friday came and went without a needed government bailout. President Donald Trump said Friday that his administration had given the budget carrier a “final proposa....
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....l” for a taxpayer-funded takeover to keep it from going under, but the absence of a deal put the airline's future in doubt. A person familiar with the matter said preparations were being made for a Saturday shutdown. They spoke on condition of anonymity because they were not authorised to disclose confidential information. There was no immediate word from Spirit Airlines or the Trump administ....
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....ration. Trump floated the idea of a bailout last week after the airline found itself in bankruptcy proceedings for the second time in less than two years with jet fuel prices soaring because of the Iran war. About 17,000 jobs could be impacted by a shutdown, Spirit lawyer Marshall Huebner said. Spirit has struggled financially since the COVID-19 pandemic, weighed down by rising operating cos....
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....ts and growing debt. By the time it filed for Chapter 11 protection in November 2024, Spirit had lost more than USD 2.5 billion since the start of 2020. The budget carrier sought bankruptcy protection again in August 2025, when it reported having USD 8.1 billion in debts and USD 8.6 billion in assets, according to court filings. (AP) GSP =============<BR> News - Press release - PIB....