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Talks to bail out Spirit Airlines stall as company teeters toward collapse
Spirit Airlines only has enough available cash to continue operations for a matter of days, not weeks, and talks for a government-backed rescue of the no-frills carrier have stalled, according to multiple sources familiar with the discussions.
Facing two bankruptcies since 2024 and rising fuel prices due to the Iran war, Spirit has sought a lifeline from the federal government.
The Trump administration has offered to come to the airline's aid, weighing a deal in which the government would lend Spirit $500 million in exchange for the right to take control of 90% of the company, CBS News has previously reported.
But the deal — which would make the government the senior bondholder, meaning it would get paid back before others — won't happen unless Spirit's creditors sign off.
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