Millionaire investor Kevin O'Leary has called the proposed $500 million bailout for Spirit Airlines a "really bad idea" and warned the federal government against supporting "bad management". The deal could give the US government the option of up to a 90 percent ownership stake in the airline, which has filed for bankruptcy twice within the past year. The proposed bailout has been criticized by conservative lawmakers, including Sen. Ted Cruz (R-Texas), and an advocacy group aligned with former Vice President Mike Pence (R) also voiced opposition. Transportation Secretary Duffy expressed concern about the potential precedent a bailout could set.