What's "bail out" mean? Can it be used in other contexts?

Native speaker’s answer
Rebecca
Here, "bailout" means to rescue or help someone from a difficult situation. More specifically, in this case, it would be a financial "bailout." And yes, "bailout" can be used in other contexts! It can mean to no longer commit to something, to be free of an obligation, or to scoop water out of a boat or ship. Ex: Jerry bailed out of the swimming competition yesterday. Ex: I need to bail out my daughter from detention. Ex: They bailed out the boat and then continued fishing.