Spirit Airlines is winding down operations after the troubled US discount carrier buckled under the weight of surging fuel prices and a government bailout dangled by President Trump fell through. All Spirit flights have been canceled, and passengers have been advised not to go to the airport, after the airline failed to secure a deal with the Trump administration for funding.

Transportation Secretary Sean Duffy spoke hours after Spirit ceased operations, leaving passengers and employees stranded across the US. He announced measures to support those passengers, saying several carriers including United, Delta, Southwest and JetBlue agreed to cap prices or reduce fares for customers impacted by the shutdown.

On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- The Points Guy Managing Editor Clint Henderson, GasBuddy's Head of Petroleum Analysis Patrick DeHaan, and Bloomberg White News White House Correspondent Jeff Mason, on what Spirit's closure means for consumers.

- Bloomberg Opinion Energy & Commodities Columnist Javier Blas on the ongoing threat to global energy supplies amid the war in Iran.

- Actor and director Ben McKenzie on his film Everyone is Lying to You for Money, an investigation into cryptocurrency, and his sit-down with Sam Bankman-Fried.

- Bloomberg News Managing Editor David Papadopoulos on betting against the odds in the Kentucky Derby.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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Bloomberg's Tom Keene and Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Federal Reserve Chair Jerome Powell said he’ll remain at the central bank as a governor after his term as chair ends. “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined,” Powell said Wednesday at a press conference.

While Powell’s term as Fed chair ends on May 15, his seat on the Board of Governors doesn’t expire until 2028. “I plan to keep a low profile as a governor,” he said. “There is only ever one chair of the Federal Reserve Board. When Kevin Warsh is confirmed and sworn in, he will be that chair.”

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Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Federal Reserve officials left interest rates unchanged, but revealed a deepening division over the outlook for policy amid increased uncertainty caused by the conflict in the Middle East.Four officials voted against the decision, including three who objected to language in their post-meeting statement that suggested the central bank would eventually resume cutting rates.

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The armed suspect who tried to enter a Washington ballroom where President Donald Trump was speaking was likely targeting administration officials, according to Acting Attorney General Todd Blanche. Blanche said Sunday on NBC’s Meet the Press that the man is believed to have acted alone after traveling by train from California and had been staying at the Washington Hilton, which was hosting the annual White House Correspondents’ Dinner where Trump was scheduled to speak.

The gunfire disrupted Trump’s first appearance as president at the annual dinner, which his predecessors routinely attended. Secret Service officers rushed into the room to evacuate Trump, First Lady Melania Trump, Vice President JD Vance and Cabinet officials. Attendees ducked under tables to take shelter. The incident took place just outside the ballroom of the Washington Hilton.

On today's show:

- Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo give a firsthand account of the shooting after attending the dinner.

- Texas Representative Michael McCaul (R), who says "we're all to blame" when it comes to the increase in violent political rhetoric online.

- Virginia Representative Don Beyer (D), on his concerns of a divided country following the shooting, and the Virginia redistricting vote that could tilt the balance in the midterm elections.

- Rising Communications Founder and former Republican congressional advisor Leslie Shedd, and Former Senior Advisor for Political Engagement during the Biden Administration, John McCarthy, on what the dinner represents in Washington, as well as Senator Tillis saying he's ready to confirm Kevin Warsh as Fed chair.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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President Donald Trump will send envoys to Pakistan with the intention of meeting with Iranian officials, while Tehran sounded a pessimistic tone on the prospects for talks to end the eight-week war roiling the global economy. Special envoy Steve Witkoff and the president’s son-in-law Jared Kushner are set to depart Saturday for talks this weekend, White House Press Secretary Karoline Leavitt said in a Fox News interview on Friday.

Iran's Foreign Minister Abbas Araghchi will meet only with Pakistani officials to convey Iran’s “observations,” with no talks planned with the US delegation, a spokesman for Iran’s Foreign Ministry said Saturday. Leavitt claimed the Iranians had reached out to the US to arrange the fresh round of talks.

On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo are in Washington DC for the White House Correspondents' Dinner. They speak with:

- Bloomberg News Reporter Eric Martin on Rubio and Vance remaining in the US, and Texas Representative Michael McCaul (R), who says the US-Iran talks are unlikely to reach a breakthrough.

- S&P Global Vice Chairman Dan Yergin on the uncertainty over the oil trade as the Strait of Hormuz remains blocked.

- Bloomberg CityLabs writer Kriston Capps on how the President is "Trumpifying" DC architecture.

Plus, Christina, David, Jeff Mason, and Lisa Mateo play Pointed: The News Quiz for Risk Takers.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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President Donald Trump said he’ll send representatives to Pakistan for talks to end the Iran war on Monday evening, while again threatening to strike civilian infrastructure if Tehran doesn’t agree to a deal. Axios is reporting that Vice President Vance will lead the delegation to the negotiations in Islamabad. The President told Fox News that Special Envoy Steve Witkoff will go to the talks, while the New York Post reported that Jared Kushner will also participate.

The standoff over Hormuz — through which about a fifth of the world’s oil flowed before the US-Israeli war on Iran — threatens to deepen the global energy crisis and undermine expectations of an imminent peace deal. Hormuz is one of several unresolved issues in peace talks, including Iran’s nuclear program and Israel’s ongoing invasion of Lebanon.

On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- Bloomberg News White House Correspondent Courtney Subramanian and Former Defense Secretary Mark Esper, on President Trump's comments to various media outlets this morning, declaring he's ready to "knock out" Iran's power plants and bridges.

- Axios White House Reporter Marc Caputo and The Atlantic Staff Writer Nancy Youssef, on US negotiators heading to Pakistan for talks.

- Chef Andrew Zimmern on eating for sustainability, and the role of 'blue foods' in combating global hunger.

Plus, Bloomberg's Ed Ludlow joins David, Christina, and Lisa to play Pointed: The News Quiz for Risk Takers.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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Iran broadcast to ships in the Strait of Hormuz that the vital oil and gas channel is once again closed to maritime traffic, with owners reporting gunfire in the waterway and ships abandoning efforts to transit after a brief spell when it appeared it might reopen.

The fresh closure was the culmination of hours of chaos and confusion that saw some ships race to get out, only to U-turn. One supertanker issued a radio broadcast that it was coming under gunfire, the two shipowners said, asking not to be identified because of the security situation. A UK naval group also warned that a tanker was approached by two Iranian gun boats and fired upon without warning. It subsequently reported another ship was hit by an unknown projectile.

On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- International Maritime Organization Secretary General Arsenio Dominguez, Former Deputy Assistant Secretary of State for Iraq and Iran under President Trump, Andrew Peek, and Former Acting Principal Deputy Assistant Secretary for the Bureau of Near Eastern Affairs under President Biden, Jennifer Gavito, on an intensified US blockade amid reported gunfire in the Strait.

- Gary Gensler, Former Chair of the US Securities & Exchange Commission, on an investigation into prediction market trades in the oil futures market ahead of recent policy pivots by President Trump.

- Puck Founding Partner Bill Cohan and Bloomberg TV Anchor Dani Burger, on why major banks are shaking off fears around private credit.

- Boston Globe Reporter Emily Sweeney on her viral accent and how journalism is pivoting in the social media age.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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President Donald Trump said the US will blockade the Strait of Hormuz following the failure of peace talks with Iran in Islamabad this weekend, a move that will likely exacerbate oil and fuel shortages globally.

“Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz,” Trump said in a social media post, essentially blocking Iran’s means of exporting oil.

On today's show, Bloomberg This Weekend hosts Christina Ruffini, Tim Stenovec, and Lisa Mateo speak with:

- Former National Security Adviser John Bolton, who says a blockade "makes sense" following the failed peace talks with Iran in Islamabad.

- Axios National Security Editor Dave Lawler, Bloomberg News White House Reporter Jeff Mason and Congressional Reporter Alicia Diaz, on what President Trump's blockade could entail.

- Mike McGlone, Bloomberg Intelligence Senior Commodities Strategist, on what an escalation in the Strait will do to oil and energy prices.

- Bloomberg News Senior Editor Derek Wallbank on using ChatGPT to train for the Paris Marathon.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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