US Could Own Up to 90% of Spirit in $500 Million Rescue Plan

The Trump administration is nearing a rescue package for Spirit Airlines that could give the US government the option to own as much as 90% of the carrier once it emerges from bankruptcy, according to people familiar with the matter.

The agreement, which has not yet been finalized, would offer as much as $500 million in financing in exchange for warrants to purchase up to 90% of the new entity, said the people, who spoke on condition of anonymity to describe the deal before it is announced. The talks are still fluid and an agreement might still not be reached. It’s also unclear what stake the US might ultimately end up with.