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US Could Own Up to 90% of Spirit as Part of $500M Rescue
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April 22, 2026
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5:28Now PlayingGeorge Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, breaks down the latest earnings from Boeing and United Airlines. He also reacts to news that the US government is close to a rescue package for Spirit Airlines.
The Trump administration is nearing a rescue package for Spirit Airlines that could give the US government the option to own as much as 90% of the carrier once it emerges from bankruptcy, according to people familiar with the matter.
The agreement, which has not yet been finalized, would offer as much as $500 million in financing in exchange for warrants to purchase up to 90% of the new entity, said the people, who spoke on condition of anonymity to describe the deal before it is announced. The talks are still fluid and an agreement might still not be reached. It’s also unclear what stake the US might ultimately end up with.
President Donald Trump said Tuesday that he was open to offering federal assistance to the airline. US Commerce Secretary Howard Lutnick is leading the effort for a possible government deal, the people said. There’s internal disagreement about whether to proceed, according to one of the people.
Lutnick was also a key player in the government’s decision to take a 10% stake in Intel Corp., though that deal was about boosting domestic chip manufacturing rather than keeping the company afloat.
Spirit Aviation Holdings Inc.’s shares jumped as much as 57% on the prospect of a government lifeline that could help it avoid a potential liquidation.
The Wall Street Journal first reported that the Trump administration was close to reaching a deal on Spirit. Bloomberg News previously reported that Spirit was at risk of possible liquidation due to rising jet fuel prices spurred by the US and Israeli war with Iran and that the carrier had floated the idea of the government taking a stake in the company, which has sought an emergency bailout.
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