"We're looking at helping them. We have 18,000 people that live in this country that are great people and great employees. We're thinking about doing it, helping them out, meaning bailing them out. Or buying it. I think we just buy it. We'd be getting it virtually debt-free."
"The government would lend Spirit $500 million at a reasonable rate interest, and become the top debtor in the bankruptcy pecking order. The loan would be protected by Spirit assets that would exceed the government's costs."
"Passed in 1950 at the onset of the Korean War, the Defense Production Act gives the president wide-ranging powers that allow him to control domestic industry during times of national emergency."
The White House is contemplating a takeover of Spirit Airlines, which has faced bankruptcy twice in two years. President Trump indicated a willingness to help the airline, suggesting a potential purchase to save jobs and utilize its aircraft. The government may lend Spirit $500 million, becoming the top debtor in its bankruptcy proceedings. This loan would be secured by Spirit's assets, allowing taxpayers to gain a 90% ownership stake post-bankruptcy. The Pentagon plans to use Spirit's capacity for military transport, with a future sale to another carrier likely.
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