Trump Administration Nears $500 Million Spirit Rescue as American Rejects United Merger (Bloomberg)
The Trump administration is close to signing off on a loan of up to $500 million for Spirit Airlines, Bloomberg and The Wall Street Journal reported. As part of the deal, Washington is expected to pick up warrants—essentially giving it the right to buy stock down the line—in the troubled discount airline. While the rescue terms aren’t set in stone yet, such a move would mark an unusual direct intervention by the federal government in a single carrier.