Budget Airlines Line Up For Subsidies After Spirit - Moby THE GIST The heads of budget airlines Frontier and Avelo met with Transportation Secretary Sean Duffy and Federal Aviation Administration (FAA) chief Bryan Bedford to ask for $2.5 billion in federal aid. In exchange, Washington would get an equity stake in these companies. But for the pitch to work, oil needs to stay above $4 a gallon. WHAT HAPPENED Budget airlines including Frontier and Avelo are offering loan-adjacent convertible warrants t ...