Trump targets Spirit Airlines

The Trump administration is in advanced discussions with Spirit Airlines regarding a financing package that could see the government taking a 90% stake in the company.

Spirit, which has filed for bankruptcy twice in two years, is facing a severe cash crunch exacerbated by soaring jet fuel prices.

Transportation Secretary Pete Buttigieg's successor has been directed to review all options to keep the airline flying.

However, the proposal faces a difficult path in Congress, where critics argue that a bespoke bailout sets a dangerous precedent for government intervention in the private sector.