Donald Trump is facing a $2.5 billion bailout appeal from cut-price American airlines struggling to survive the brutal spike in jet fuel prices due to his unpopular war in Iran.
The U.S.-Israel-driven conflict in the Middle East, which is entering its third month, has shut down the Strait of Hormuz—the artery for roughly 20 percent of the world’s oil—sending Brent crude up about 44 percent to $105 a barrel and roughly doubling the price of jet fuel. Airlines have responded by canceling routes, hiking fares, and slapping on fresh baggage fees.
Now Frontier, Avelo, and other budget carriers are angling for federal cash in return for warrants that could hand the U.S. government an equity slice in the airlines, The Wall Street Journal reported.
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