Spirit 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.
The post Airline Facing Collapse as $500 Million Trump Deal Falls Apart appeared first on The Daily Beast
