I'm LongbridgeAI, I can summarize articles.President Trump proposed a taxpayer-funded takeover of Spirit Airlines instead of a traditional bailout, aiming to resell the airline once oil prices decline. He emphasized the importance of saving jobs for the estimated 18,000 staffers and maintaining competition in the airline industry. Spirit Airlines has faced financial difficulties, including multiple bankruptcies and rising operational costs. Trump suggested appointing a capable manager to run the airline effectively, with plans to sell it for profit when it becomes valuable again.
President Donald Trump has doubled down on the idea of a taxpayer-funded takeover of Spirit Airlines rather than a traditional bailout, an approach critics previously described as highly problematic.
Trump reaffirmed his interest in offering the airline a financial lifeline during a meeting at the Oval Office on Thursday, adding that the plan would involve reselling the carrier once oil prices decline.
"We're thinking about doing it, helping them out and meaning bailing them out or buying it. I think we just buy it," he said.
"We'd be getting it virtually debt free. They have some good aircraft, some good assets, and when the price of oil goes down, we'll sell it for a profit."
TED CRUZ POURS COLD WATER ON TRUMP ADMINISTRATION PLAN TO BAIL OUT SPIRIT AIRLINES: ‘TERRIBLE IDEA’
President Donald Trump speaks in the Oval Office at the White House on Oct. 6, 2025, in Washington, D.C. (Anna Moneymaker/Getty Images / Getty Images)
The remarks came amid talks of a potential financial bailout involving a reported $500 million loan aimed at preserving thousands of American jobs and maintaining a budget-friendly competitor in the airfare industry.
"It's in a bankruptcy," Trump said. "It's in bankruptcy court. And we're looking if we could get it for the right price, I'd do it to save jobs."
Spirit Airlines has faced years of mounting financial challenges that have been pushing the company toward potential liquidation, including multiple Chapter 11 bankruptcy filings, failed merger attempts with other low-cost competitors, and rising operation costs driven in part by surging jet fuel prices linked to the conflict involving Iran.
BIDEN-SCHUMER-PELOSI WOULD DO MORE DAMAGE IN 2 YEARS THAN OBAMA DID IN 8: TED CRUZ
Spirit Airlines airplanes at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on Oct. 24, 2023. (Eva Marie Uzcategui/Bloomberg via Getty Images / Getty Images)
Trump said the strategy would be to put a "smart person" in charge to run the airline properly, wait for oil prices to drop, and then resell the company for a profit once it becomes a valuable asset again.
"We have somebody that wants to run it, do a good job, smart person, and if they run it properly and if prices come down, all of a sudden it's a valuable asset," he said.
A primary motivation for the potential takeover, Trump said, is to protect the livelihoods of what he estimated to be 18,000 staffers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FLYYQ | SPIRIT AVIATION HOLDINGS INC | 1.11 | -0.39 | -26.00% |
He further emphasized that keeping a large number of airlines in business is important to maintain healthy competition within the industry.
"I'd love to be able to save an airline," the president added. "You know, I like having a lot of airlines. So it's competitive."
He also pointed out that Spirit Airlines had attempted to merge with another airline years ago before the Obama administration had blocked the move, a decision Trump described as a mistake.
JetBlue Airways planes sit on the tarmac at the Fort Lauderdale-Hollywood International Airport on January 31, 2024 in Fort Lauderdale, Florida. (Photo by Joe Raedle/Getty Images / Getty Images)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Spirit Airlines previously filed for bankruptcy on two separate occasions, in November 2024 and August 2025, amid mounting losses and unsuccessful merger talks.
In late February, the airline announced that it had reached an agreement with its lenders to exit bankruptcy proceedings.
The company also introduced a revised business strategy aimed at expanding premium seating options and loyalty programs in an effort to improve financial performance while maintaining its low-cost brand identity.
FOX Business' Anders Hagstrom contributed to this report.