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Airlines Seek Fuel Aid
Description
Low-cost U.S. airlines including Frontier and Avelo proposed exchanging warrants convertible into equity for $2.5B in government assistance to offset rising fuel costs. The Association of Value Airlines cited an average base fare of $111 vs. double for larger carriers. Airline executives met with Transportation Secretary Sean Duffy and FAA chief Bryan Bedford. The administration is also nearing a $500M financing deal for Spirit Airlines.
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