WASHINGTON (AP) — President Donald Trump said Friday his administration is still weighing a taxpayer-funded takeover of Spirit Airlines, with talks ongoing and no final decision yet on whether to move forward with a potential bailout.

Speaking to reporters before departing the White House for Florida, Trump emphasized that a deal to rescue the financially strapped airline remained under review. The president did not provide details but said an announcement could come as soon as later Friday or Saturday.

WATCH: Rising fuel costs put budget airlines under pressure as Spirit faces bankruptcy

"We're looking at it. If we could do it, we'll do it. But only if it's a good deal," Trump said.

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The possibility of a bailout first emerged publicly last week, when Trump floated the idea of the U.S. government offering Spirit a financial lifeline to help keep the airline from going bust and out of business.

The president suggested the government would be able to resell the airline known for its bright yellow planes and "no frills" service for a profit once oil prices driven up by the Iran war come down.

READ MORE: What lagging jet fuel supplies could mean for airlines and travelers

Lawmakers from both parties and members of the Trump administration have criticized the idea of using taxpayer funds to keep the ultra-low cost airline afloat. Speculation around the likelihood of a deal emerging has mounted with every day that passes without a resolution as Spirit's operating expenses and debts mount.

The administration delivered what Trump described as a "final proposal" to the airline. He framed the possible federal intervention as an effort to preserve jobs but stressed that any financial arrangement worked out would have to benefit the government.

"We're looking at Spirit and if we can help them, we will. But we have to come first," Trump said.

He likened the idea to his administration's previous move to take a stake in semiconductor manufacturer Intel, while noting the potential relief under discussion for Spirit was "a different kind of a thing."

A lawyer for the airline told a U.S. Bankruptcy Court last week that Spirit was in advanced talks with the government over financing that could allow it to exit Chapter 11 protection.

Supporters of a rescue rescue — including labor unions representing Spirit's pilots and flight attendants — say that a collpase would cost jobs and reduce competition, likely pushing fares higher.

Critics from both parties have questioned the use of taxpayer funds, warning that federal support could amount to a bailout of a company with a long history of losses.

Spirit filed for bankruptcy protection in November 2024 and again in August 2025 and has struggled financially for years.

More recently, rising jet fuel costs tied to the Iran war have intensified pressure on the airline. Its creditors last month expressed doubts about whether Spirit could continue operating, raising the possibility that the airline could be forced to sell off assets and shut down.

Spirit has been on shaky financial ground since the COVID-19 pandemic, weighed down by rising operating costs and growing debt. By the time of its first Chapter 11 filing, Spirit had lost more than $2.5 billion since the start of 2020.

The budget carrier sought bankruptcy protection for a second time after its parent company revealed in a quarterly report that it had "substantial doubt" about Spirit's ability to stay in business over the next year, citing "adverse market conditions" after its first restructuring — including weak leisure domestic travel demand and ongoing "uncertainties in its business operations."

Yamat reported from Las Vegas.