Overview
- President Trump, who spoke Thursday in the Oval Office, said “I think we just buy it” and pitched reselling Spirit once oil prices fall.
- Multiple outlets report negotiations on up to $500 million in government financing tied to stock warrants that could hand Washington a large stake, with some reports citing near 90%, and no deal finalized.
- Republican lawmakers including Ted Cruz and Tom Cotton called the plan a poor use of taxpayer money, and Transportation Secretary Sean Duffy warned against “putting good money after bad.”
- A jet fuel spike after the February 28 Iran war doubled U.S. prices to about $4.20 a gallon from roughly $2.50, blowing up Spirit’s fragile bankruptcy‑exit math and reviving liquidation fears.
- Spirit’s pilots union backs federal relief to protect roughly 14,000 jobs and keep low‑fare options available to travelers.