Trump says a ‘final proposal’ for a taxpayer-funded takeover of Spirit Airlines is under consideration

President Donald Trump said Friday that his administration was 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 for a carrier mired in bankruptcy proceedings for the second time in less than two years.

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 later Friday or Saturday.

“We’re looking at it. If we could do it, we’ll do it. But only if it’s a good deal,” he said, speaking to reporters before departing the White House for Florida.

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

The president suggested the government would be able to resell the airline known for its...