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Spirit Airlines' cash won't 'last for very much longer,' but Trump says government could buy carrier
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Spirit Airlines' cash won't 'last for very much longer,' but Trump says government could buy carrier

CNBC·Leslie Josephs·about 1 month ago
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A Spirit Airlines plane at New York's LaGuardia Airport. Leslie Josephs/CNBC Spirit Airlines' accessible cash to keep operating won't last long and a government rescue package is on the table, a lawyer for the struggling budget carrier said at a hearing Thursday. President Donald Trump later Thursday at the White House told reporters: "We're thinking about doing it, helping them out, meaning bailing them out, or buying it." Trump told reporters that "when the price of oil goes down," the government could "sell it for a profit." "I'd love to be able to save those jobs. I'd love to be able to save an airline. I like having a lot of airlines, so it's competitive," he said. Marshall Huebner of Davis Polk, the airline's lawyer, did not outline the proposed rescue plan at the Thursday bankruptcy hearing, but people familiar with the matter told CNBC this week that on the table is a $500 million loan that could give the government a potential stake of 90% of the Florida-based airline.…

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