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Spirit Airlines Seeks $500 M Loan, Government 90% Stake; ARC Burger Liquidates Chapter 7

4/24/2026

44 6 Full Breakdown

Summary

Story summary

Spirit Airlines is negotiating a $500 million federal loan that could give the government a 90 % stake.
Spirit must secure $240 million of restricted cash by next week to avoid shutdown.
A judge will soon hear the loan proposal for the bankrupt airline.
ARC Burger, operator of 77 Hardee’s restaurants, filed for Chapter 7 liquidation with up to $50 million in liabilities and 5,001-10,000 creditors.

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Story summary

Spirit Airlines is negotiating a $500 million federal loan that could give the government a 90 % stake.
Spirit must secure $240 million of restricted cash by next week to avoid shutdown.
A judge will soon hear the loan proposal for the bankrupt airline.
ARC Burger, operator of 77 Hardee’s restaurants, filed for Chapter 7 liquidation with up to $50 million in liabilities and 5,001-10,000 creditors.