White House close to deal of up to $500m to rescue ailing Spirit Airlines

Rising costs have continued to plague the company, now facing soaring fuel costs due to the war with Iran

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The White House is finalizing a financing package to help ailing US budget carrier Spirit Airlines, which could receive as much as $500m in loans as rising costs continue to plague the company.

News of the potential deal comes as Spirit and others struggle with soaring fuel costs due to the war with Iran.