This is the meaning of to bail out here: 1. To parachute from an aircraft; eject. 2. To abandon a project or enterprise. To bail out is a way of saying to get out of something or to escape something. In this case, someone has changed their mind about being with the other person and want to end things. If you have a business partner you're losing a lot of money with, you'd likely bail out on them.

this basically means that up until now, this other person and yourself were in agreement and had the same goal in mind, but something difficult has come up, the other person wants to overcome the difficulty and continue to the goal but you want to quit the whole thing and leave the other person alone in his endeavor. Its a saying that comes from when a ship was sinking and people would jump/bail out of the ship because no one wants to ride a sinking ship.

"So you want to BAIL OUT on me? After all the time and money and effort we put into this?!" You might use this expression "bail out" when the other person you have been making plans with suddenly decides he doesn't want to do it anymore. The person who "bails out" on another person sometimes loses the respect and trust of that person.

"bail out": to abandon a harmful or difficult situation. If the ship is sinking you want to bail out as soon as possible.