Spirit Airlines announced on Saturday that it has begun to gradually cease operations in an orderly manner. Due to the company's failure to reach a funding support agreement with the Trump administration, all flights have been canceled, and passengers have been notified not to go to the airport. Spirit Airlines CEO stated, "To keep the company running, we need an additional several billion dollars in liquidity, which the company simply does not have and cannot obtain. This is truly very disappointing and is not the outcome any of us hoped for." The U.S. government had considered providing $500 million in funding to Spirit Airlines, in exchange for warrants giving the government up to a 90% stake in the airline. However, major creditors did not agree to this plan, because if the airline goes bankrupt in the future, the government's claims would be paid first.