Kevin O’Leary Slams Trump’s $500 Million Spirit Airlines Bailout: ‘Let Failing Companies Die’
The proposed plan could include a $500 million loan and give the federal government up to 90% ownership after bankruptcy, reports said.
- On Thursday, investor Kevin O'Leary called the Trump administration's reported $500 million plan to rescue Spirit Airlines a "really bad idea," arguing that propping up failing companies undermines American capitalism.
- President Donald Trump signaled support for a rescue last week to preserve 14,000 jobs, while Spirit Airlines has struggled since the pandemic, filing for bankruptcy twice in roughly a year following a blocked merger with JetBlue.
- Advocating for market-driven outcomes, O'Leary stated, "You don't want to support bad management. You want to let them die," consistent with his 2020 pandemic position that struggling airlines should "go bankrupt" rather than receive federal aid.
- Sen. Ted Cruz and Sen. Jerry Moran voiced Republican opposition, with Cruz calling the bailout an "absolutely terrible idea" and Moran expressing philosophical concerns about government involvement in private corporations.
- Critics note Trump previously operated the Trump Shuttle between 1989 and 1992, which never turned a profit, raising concerns that the administration's interventionist agenda risks taxpayer funds on unprofitable enterprises.
13 Articles
13 Articles
‘Horsesh*t’: Hill Republicans align against Spirit’s bid for a Trump bailout
The NewsPresident Donald Trump has spent most of his second term bending congressional Republicans to his will. That’s not going to happen with Spirit Airlines.Less than a week after the president confirmed officials are “thinking about” buying a stake in the struggling carrier, nearly a dozen GOP lawmakers told Semafor they either opposed the plan or harbored significant doubts about it. Critics of the idea ranged from moderates to conservative…
Trump could be running an airline — and even MAGA is worried
On April 22, Reuters reported that according to three sources, the Trump administration was getting closer to a deal that would give troubled Spirit Airlines a $500 million bailout. And Republican allies of President Donald Trump were quick to voice their opposition — including Sen. Ted Cruz (R-Texas), who described a possible Spirit bailout as an "absolutely terrible idea." Sen. Tom Cotton (R-Arkansas) commented that the bailout would be "not t…
'Picking winners and losers': WaPo slams Trump's budget airline 'socialism' plan
The Washington Post editorial board joined the Wall Street Journal on Monday evening in condemning President Donald Trump's plan to effectively nationalize Spirit Airlines with a $500 billion bailout in exchange for an up to 90 percent equity stake — and warned that this flirtation with "socialism" ...
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