Breitbart Business Digest: Going on Up to the Spirit in the Sky

The Spirit of Trump Sovereign Investment

The folks who are convinced Trump is driving us toward “state capitalism” can take a breath.

Over the weekend, Spirit Airlines gave up the ghost and went to that great hangar in the sky, ending 34 years as America’s leading ultra-low-cost carrier. The administration let it happen, and the critics who assumed a bailout was a foregone conclusion got it wrong.

It wasn’t for lack of trying on the part of Spirit’s creditors and management. Reports indicate the White House was willing to extend up to $500 million in financing but on terms that demanded real equity and repayment discipline. Trump wanted the kind of terms an investor would insist on, not the kind a political patron would offer.

The creditors looked at the deal and decided they preferred liquidation, betting they’d recover more by repossessing planes and gates than by accepting