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That's according to a source familiar with the talks who is not authorized to speak publicly.
While the terms are still being finalized, the source says the U.S.
government could wind up with a major stake in the airline.
Spirit was already struggling to turn a profit before the Iran war caused the cost of jet fuel to spike.
The low-cost carrier filed for bankruptcy last year for the second time since 2024.
In an interview with CNBC this week, President Trump said, quote, Spirit's in trouble, unquote, and that maybe the federal government should help.
Joel Rose, NPR News, Washington.
The Department of Transportation says it is taking a look at Spirit Airlines at the request of President Trump.
In an interview with CNBC, Trump said, quote, Spirit's in trouble, unquote, and that maybe the federal government should help while also calling for another buyer to step in.
Spirit filed for bankruptcy protection in August for the second time in less than a year.
Now, soaring fuel costs tied to the Iran war are adding even more uncertainty about the carrier's ability to keep operating.
Spirit is not the only airline that's struggling with high fuel costs.
A trade association for low-cost carriers sent a letter to Congress last week asking for temporary tax relief.
Joel Rose, NPR News, Washington.
American and United are locked in a fight over market share at O'Hare Airport.
Both airlines have been aggressively adding flights at the airport where they each have a hub.
Maybe too many flights, according to the FAA.
Regulators are moving to cap flights at O'Hare this summer.
prevent gridlock at the airport, which is now the busiest in the US in terms of takeoffs and landings.
The airlines have supported the FAA's plan, at least publicly, but the Chicago Department of Aviation, which operates the airport, argues that O'Hare's recent expansion has reduced delays and increased its operating capacity.