President Donald Trump said he's still "looking" at the possibility of bailing out Spirit Airlines as the company is reportedly gearing up to cease operations.
Speaking to press at the White House, Trump said: "If we could do it, we'll do it. But only if it's a good deal."
He did not provide details about the deal being considered, but noted he would like to prevent the company from shutting down to save the jobs.
Trump did say his administration gave the company a "final proposal" and will make an announcement on Friday or Saturday.
"We're looking at Spirit and if we can help them, we will. But we have to come first," he said.
The remarks follow a report by the Wall Street Journal claiming that the company is preparing to cease operations.
Citing people familiar with the business, the outlet detailed that the company has not been able to get support of bondholders and the government to secure funding to stay in business.
CBS News had already noted on Thursday that even if there was a proposal, any deal needs to get approved by Spirit's creditors, some of whom are wary of a bailout.
Citadel, owned by Ken Griffin, submitted a counterproposal that was rejected by the government. Two others are also opposed, according to the outlet, as becoming the senior bondholder would allow the government to get paid before others.
Spirit has been struggling to exit Chapter 11 bankruptcy for the second time in under a year. The airline initially filed for bankruptcy protection in November 2024 after reporting heavy losses and debt pressure, and again in 2025 following a failed restructuring attempt.
According to another report by The Wall Street Journal, rising jet fuel prices have significantly undermined Spirit's turnaround plan. The publication reported that the surge in fuel costs, linked in part to geopolitical tensions, has increased operating expenses to a level that some creditors believe makes the current restructuring plan unworkable.
The possibility has led others to also ask the government for a bailout. The Association of Value Airlines (AVA), a trade organization for value airlines, said that its members were working collaboratively and looking for help from the Trump administration. Last week, member air carriers, which include Spirit, Frontier, Avelo Air, Allegiant Air, and Sun Country, met with Transportation Secretary Sean Duffy.
AVA says that it has asked for the creation of a $2.5 billion liquidity pool to be used only to offset "incremental fuel costs, as a necessary and targeted measure to stabilize operations and keep airfares affordable."
