Spirit Airlines is seeking aid from the U.S. government as it struggles to stay in business. The airline is even willing to give the government an equity stake, according to a new report.
Spirit is facing the imminent possibility of running out of cash and being forced to shut down and liquidate assets, as a surge in jet fuel prices since the start of the U.S.-Iran war has imperiled the airline's plans to emerge from bankruptcy this summer and return to profitability. It is not clear whether the airline can convince its creditors to extend more cash to cover fuel costs.
In exchange for an infusion of cash from the U.S. to help cover those rising costs, the airline has floated giving the government an equity stake in the airline, Bloomberg reported Monday.
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