The budget carrier Spirit Airlines is ceasing operations after failing to land a $500 million bailout from the Trump administration.

Cash-strapped Spirit Airlines appeared closer to a shutdown after Friday came and went without a needed government bailout

Spirit Airlines is shutting down as a business after failing to secure a $500m (£368m) bailout from the Trump administration. The budget airline was in talks with the US government about a rescue deal which would have saved it from collapse.

President Donald Trump on Friday said he’s still weighing a taxpayer-funded takeover of Spirit Airlines. The president didn’t offer details about the proposal but told reporters as he prepared to leave the White House for a trip to Florida that he would have an announcement on the matter Friday or Saturday.

The airline said on its website that all flights have been canceled and customer service is no longer available.

President Donald Trump said he delivered a final proposal to rescue Spirit Aviation Holdings Inc. but would only proceed if it’s a good deal for the US government — comments that cloud the fate of any bailout as the low-budget carrier lays the groundwork to end operations.

President Donald Trump says his administration is still weighing a taxpayer-funded takeover of Spirit Airlines “but only if it’s a good deal” for the government

President Donald Trump said on Friday the White House had given Spirit Airlines and its creditors a final proposal to try to rescue the bankrupt airline, even as the budget carrier makes preparations to shut down if no deal is reached.