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Trump Offers $500 M Loan for Spirit, Creditors Reject Deal

4/30/2026

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Summary

Story summary

U.S. President Donald Trump’s administration offered Spirit Airlines a $500 million loan for a 90% stake, leaving the deal stalled.
Spirit Airlines has $250 million in cash, with creditors Citadel, Ares Management Corp., and Cyrus Capital rejecting the rescue proposal.
A bankruptcy hearing set for Thursday was postponed as bailout talks continue.
The administration may invoke the Defense Production Act to extend the loan for military transport use.

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Story summary

U.S. President Donald Trump’s administration offered Spirit Airlines a $500 million loan for a 90% stake, leaving the deal stalled.
Spirit Airlines has $250 million in cash, with creditors Citadel, Ares Management Corp., and Cyrus Capital rejecting the rescue proposal.
A bankruptcy hearing set for Thursday was postponed as bailout talks continue.
The administration may invoke the Defense Production Act to extend the loan for military transport use.