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Budget airlines look for $2.5B in return for warrants . (0:15) Tillis hints at Powell stay as Fed governor . (1:05) DeepSeek cuts V4-Pro pricing as AI cost competition intensifies. (2:10)

The following is an abridged transcript:

A group of U.S. budget airlines, including Frontier Group ( ULCC ) and Avelo Airlines, is seeking about $2.5B in federal aid in exchange for warrants that could convert into equity stakes , the Wall Street Journal reports.

The carriers based that figure on projected incremental jet fuel costs this year, assuming prices stay above $4 per gallon. Low-cost operators have been squeezed by higher fuel and labor costs amid weaker pricing power in a competitive domestic market.

Airline executives met last week in Washington with Transportation Secretary Sean Duffy and FAA Administrator Bryan Bedford.…