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Bloomberg Money Minute: Spirit Airlines Offers US Stake; Hyundai Boosts Production

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Bloomberg Money Minute: Spirit Airlines Offers US Stake; Hyundai Boosts Production

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17 segments

0:00

This is the Bloomberg Money Minute. Spirit Airlines is said to have floated,

0:04

offering the U.S. government an equity stake in the

0:06

discount carrier to help prevent its liquidation.

0:09

The proposal comes after the White House brokered a deal last year to become one

0:13

of the biggest shareholders in Intel to boost the Chipmaker's domestic

0:17

initiatives. However, any proposed bailout is likely

0:20

to get pushback from the competition, which are also struggling with a spike

0:24

in jet fuel prices. Checking on Your Money.

0:27

Investors continue to remain focused on all of the developments in the Middle

0:30

East. Wall Street hopeful about a peace deal.

0:33

Stocks are looking at a higher open and Hyundai plans to ramp up its production

0:38

in the U.S. like the rest of the auto industry.

0:40

Hyundai has been dealing with tariffs along with supply disruptions and uneven

0:44

demand for electric vehicles. The company says increasing the number

0:48

of cars it makes in the U.S. will avoid the extra cost of tariffs.

0:52

Currently, about half of the vehicles Hyundai sells in the U.S.

0:56

are built domestically. Courtney Donohoe Bloomberg.

Interactive Summary

Spirit Airlines is exploring offering the U.S. government an equity stake to avoid potential liquidation, while Hyundai plans to increase its domestic U.S. vehicle production to mitigate tariff costs and supply chain issues.

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