‘Capitalism works because the losers die’: Kevin O’Leary says it’s a ‘really bad idea’ for the federal government to bail out Spirit Airlines

Spirit Airlines may have only days to secure a lifeline, but multimillionaire investor and Shark Tank star Kevin O’Leary thinks Washington should let the budget carrier crash and burn.

In an interview on Thursday on NewsNation’s Katie Pavlich Tonight, O’Leary called the Trump administration’s reported $500 million plan to rescue Spirit Airlines a “really bad idea,” arguing that propping up failing companies undermines the logic of American capitalism.

“All of these rescue bailout programs for failing companies—capitalism works because the losers die, the protein goes to the bottom of the ocean, it’s acquired by private equity firms, lenders, or other strategic buyers, but it’s bad management,” O’Leary said. 

“You don’t want to support bad management. You want to let them die,” he continued. “That’s how the private system works. The best rise to the top, and the loser dogs go out of business.”

What’s happening with Spirit Airlines

The Shark Tank investor’s comments come as the Trump administration enters advanced talks over a financial rescue for the low-cost carrier. The package under discussion reportedly could include a loan of up to $500 million, with warrants that could give the federal government the right to own up to 90% of the........

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