Spirit Airlines nears $500m bailout

Spirit Airlines is teetering on the edge of bankruptcy as soaring jet fuel costs and a failed merger have left its finances in disarray.

President Trump's proposed rescue plan has drawn sharp criticism from some of his closest Republican allies, including Senator Ted Cruz, who called it a 'terrible idea.' Advocates for the deal argue it is necessary to protect competition and prevent thousands of job losses.

However, opponents warn that the bailout represents an unprecedented level of government involvement in the private sector.