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Stock impact report

Spirit lawyer confirms the airline is in 'advanced' talks with US for a rescue package [Yahoo! Finance Canada]

JetBlue Airways Corporation (JBLU) 
Last jetblue airways corporation earnings: 1/23 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.jetblue.com/investor-relations
What's behind the move: A Spirit lawyer said the struggling air carrier company is in “very advanced discussions” with the US government regarding a financing package, according to Marshall Huebner spoke at a New York bankruptcy court hearing on Thursday but did not provide details about the financial terms of the discussions. Reports indicate that a potential deal with the US government could include roughly $500 million in cash in exchange for warrants representing up to a 90% stake in the company upon its exit from bankruptcy. What else you need to know: Spirit's lawyer has indicated the budget airline will to continue operations. Higher costs, thin margins, and intense domestic competition have pushed the airline to the brink of collapse. Failed merger attempts with JetBlue ( ) have left Spirit struggling, forcing it to file for bankruptcy twice in a year. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at Show less Read more
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