Spirit Airlines narrowly averted 2020 bankruptcy ahead of potential Trump-era bailout
A new report reveals that Spirit Airlines was secretly preparing for a Chapter 11 bankruptcy filing in March 2020 as the pandemic began. At the time, the Trump administration was also developing plans for a structured bailout for at least one U.S. airline, anticipating an industry collapse. The specific bankruptcy and targeted bailout for Spirit were ultimately averted by the passage of the broad CARES Act, which provided financial relief to the entire sector. This historical context sheds new light on the airline's current financial vulnerability following the blocked merger with JetBlue.
Official Source: https://theaircurrent.com/airlines/spirit-airlines-trump-administration-bankruptcy-bailout-jetblue/
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