Trump says announcement expected Friday on Spirit Airlines deal

President Donald Trump said an announcement was expected Friday on Spirit Airlines, amid a report that the airline was preparing to cease operations after a $500 million rescue deal fell apart.

The Wall Street Journal first reported that the airline is preparing to shut down operations.

When asked if the administration had decided against bailing out Spirit Airlines, Trump told reporters on Friday, "I guess we're looking at it. If we could do it, we do it, but only if it's a good deal."

"No institution's been able to do it," he continued. "I said 'I'd like to save the jobs,' but we'll have an announcement sometime today. We gave them, we gave them a final proposal."

This is a developing story, check back for updates.