Ted Cruz pours cold water on Trump admin plan to bail out Spirit Airlines: 'TERRIBLE idea' [FOX Business Network]
United Airlines Holdings, Inc. (UAL)
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Source: FOX Business Network
Sen. Ted Cruz , R-Texas, came out full throttle against the Trump administration's proposed plan to bail out Spirit Airlines on Wednesday. Cruz replied to reports that the administration's plan would see the U.S. government own up to 90% of the airline. President Donald Trump first floated the idea of buying out the airline on Tuesday. "This is an absolutely TERRIBLE idea," Cruz wrote in a statement on X. "The TARP corporate bailouts were a huge mistake & the government doesn't know a damn thing about running a failed budget airline (that the Biden admin killed)," he added. Cruz was joined by Sen. Tom Cotton, R-Ark., in pushing back on the plan this week. Cotton argued it was "not the best use of taxpayer dollars." "If Spirit's creditors or other potential investors don't think they can run it profitably coming out of its second bankruptcy in under two years, I doubt the US Government can either," Cotton wrote on X. Stocks In This Article: FLYYQ Trump was interviewed
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- UAL's page on the SEC website