Ultra-low-cost carrier was in trouble even before recent fuel price hikes
US commerce secretary Howard Lutnick. Photo: Getty
Bloomberg
The Trump administration is nearing a rescue package for American low-cost airline Spirit Airlines that could give the US government the option to own as much as 90pc of the carrier once it emerges from bankruptcy, according to people familiar with the matter.
The agreement, which has not yet been finalised, would offer as much as $500m in financing in exchange for warrants to purchase up to 90pc of the new entity, said the people, who spoke on condition of anonymity to describe the deal before it is announced.
