President Donald Trump said Friday that he is still weighing a taxpayer-funded takeover of Spirit Airlines as the budget carrier faces potential shutdown.

Trump made the comments to reporters as he prepared to depart the White House for a trip to Florida. He did not provide new details on the proposal but indicated an announcement could come on Friday or Saturday. "We’re looking at it. If we could do it, we’ll do it. But only if it’s a good deal," Trump said.

Spirit Airlines, which employs about 14,000 people, filed for Chapter 11 bankruptcy protection for the second time in August 2025. The carrier had aimed to exit bankruptcy in late spring or early summer after reaching a preliminary deal with lenders. However, soaring oil prices above $100 per barrel, triggered by U.S. and Israeli strikes on Iran, doubled jet fuel costs in some markets and disrupted those plans.

Trump first publicly floated government assistance on April 21 during a CNBC interview. "I’d love somebody to buy Spirit, it’s 14,000 jobs, and maybe the federal government should help that one out," he said. Reports soon emerged of advanced discussions for a $500 million federal financing package. The deal would provide a loan to sustain operations during bankruptcy, converting to a longer-term loan upon exit, with warrants potentially giving the U.S. government up to a 90% stake. The administration has explored using the Defense Production Act to facilitate the rescue.

As of April 28, two of Spirit's three major creditor groups supported the plan: holders of a $275 million credit facility and a committee of unsecured creditors with billions in junior claims. The remaining group includes major holders like Citadel Americas and Cyrus Capital.

However, the rescue effort has encountered hurdles. A Wall Street Journal report indicated Friday that the deal failed to secure full creditor backing amid congressional opposition. Shares of Spirit's rivals rose on news that the carrier may cease operations as early as Saturday without intervention.

The proposal has drawn mixed reactions. Some conservatives, including Sen. Ted Cruz, criticized it as a "terrible idea." Transportation Secretary Sean Duffy expressed skepticism, questioning government involvement. Unions have urged employee protections in any bailout. White House spokesman Kush Desai affirmed the administration's exploration of options to preserve jobs and service.

Trump has emphasized reselling the airline after oil prices fall, aiming for taxpayer profit. The situation remains fluid, with a potential announcement imminent.