Creditor Support for Bailout
Two creditor groups of Spirit Airlines are supporting a bailout plan proposed by President Trump, according to a report. The long-troubled air carrier is currently in bankruptcy court. Spirit Airlines is quickly running out of cash.
Trump's Potential Actions
Reports indicate that the Trump administration was in talks to loan as much as $500 million to Spirit Airlines. President Trump told reporters that the federal government might buy the ailing airline.
Fuel Prices Threaten Airlines
Soaring fuel prices are threatening air carriers around the world. JetBlue Airways' return to profitability may be upended by a big fuel bill and the Spirit bailout. American Airlines is set to raise $1.14 billion through aircraft-backed securities.
Other Business News
Samsung Elec plans to withdraw home appliances and TV sales from China. Rogers Communications is offering buyouts to half its workforce. Activist Starboard Value is taking a major stake in AI software maker Dynatrace. Paramount is seeking FCC approval for foreign investors backing a Warner Bros acquisition. OpenAI is falling short of revenue and user targets as it races toward an IPO. Foreign automakers threaten to pull cheapest models from the U.S. without a trade deal.
Trump Defends Secret Service
President Trump is standing by Secret Service leadership following the shooting at the White House Correspondents' Association dinner. A senior White House official said Trump thinks the Secret Service did "an excellent job" of neutralizing the shooter. First lady Melania Trump and Vice President were moved to safety.
Trump and Kimmel Spat
White House press secretary Karoline Leavitt denounced Jimmy Kimmel for calling first lady Melania Trump "an expectant widow." Jane Fonda's free speech group is defending Jimmy Kimmel. The Committee for the First Amendment, a free speech advocacy group led by Jane Fonda, criticized President Trump for urging ABC to fire Jimmy Kimmel over his comments about first lady Melania Trump.
