Spirit bankruptcy

A U.S. bankruptcy judge on Tuesday approved the failed carrier’s wind-down plan and budget.

The failed carrier will retain a small core of employees to manage its shutdown and liquidate assets.

Earlier reports suggested that the carrier was quickly running out of cash.

The Wall Street Journal reported Friday that the carrier is preparing to shut down.

The carrier is reportedly struggling to get its various creditors to agree to a government rescue plan.

Some of the airline’s creditors have raised concerns about a potential rescue’s impact on their investments.

The president said he’d like to acquire the budget carrier and then sell it for a profit when oil prices come down.

The carrier is believed to have reached out to the White House last week.

The airline is reportedly struggling to stay ahead of rising jet fuel costs.

The budget carrier recently disclosed more details of its restructuring plan.