Spirit Airlines Faces Cash Crunch as U.S. Rescue Talks Intensify

Spirit Airlines says its available operating cash will not last long and it needs new funding or access to about $240 million of restricted cash within days, as it pursues a potential $500 million government loan that could give the U.S. government a stake up to 90%; the deal, discussed in bankruptcy court with the Trump administration, could determine whether Spirit survives as a stand-alone carrier or becomes part of industry consolidation.