Spirit Airlines is making plans to cease operations as soon as Saturday, barring last minute intervention, CBS News has learned.
Negotiations over a $500 million dollar government aid package remained stalled after bondholders balked at the terms.
Trump administration officials have been told Spirit will be shutting down operations in the next 24 hours. There will be no last-minute administration effort regarding a bailout, according to sources familiar with the discussions.
The airline’s available cash on hand was expected to last only a matter of days, CBS News previously reported.
Spirit continues normal operations Friday, and sources emphasize the airline’s focus remains on safely completing those flights.
A spokesperson for the bankrupt airline declined to comment on the ongoing discussions, saying only that “Spirit is operating as usual.”
This is a developing story and will be upated.
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