Airline Facing Collapse as $500 Million Trump Deal Falls Apart

MIKE BLAKE / REUTERS 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. Read more at The Daily Beast.

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