The Trump administration is in advanced talks for a financing package for Spirit Airlines as the carrier is facing the risk of a liquidation, according to people familiar with the matter.

The deal could include $500 million in financing from the government, which could provide a path to give the government an equity stake in the carrier, said the people, who requested anonymity because they were not authorized to discuss the talks. The senior financing would put the government ahead of other stakeholders in the airline, one of the people said.