Rather than accept Frontier’s offer, Spirit said it will stick to its current plan to emerge from Chapter 11 bankruptcy.
Frontier and Spirit Airlines will once again try to merge, only months after the Biden administration won a key antitrust court battle to block
Frontier Airlines’ second attempt at acquiring rival Spirit Airlines could impact not only one but two western Pennsylvania airports although the bankrupt air carrier said it preferred to emerge from bankruptcy protection as a standalone carrier.
Frontier Airlines is attempting for a second time to merge with the now bankrupt Spirit Airlines, which declared bankruptcy late last year as budget airlines struggle.
Frontier Airlines has made another bid for Spirit Airlines, but the offer failed to sway the South Florida-based ULCC as it proceeds through a Chapter 11 restructuring.
Frontier is making an offer to acquire the beleaguered Spirit Airlines, which filed for bankruptcy in November.
Budget carrier Frontier Airlines announced on Wednesday that it has made another bid for fellow discount carrier Spirit Airlines, which is in bankruptcy, for an undisclosed sum.
Frontier Airlines struck out yet again in its second attempt to acquire rival carrier Spirit Airlines. Spirit filed for bankruptcy last year as it faced mounting losses.
Denver-based Frontier Airlines says it’s ready to keep talking after bankrupt Spirit Airlines rejected its offer to merge.
Frontier said a merger would be better for long-term viability, making the combination the fifth largest airline in the United States and producing at least $600 million in operational savings. It argued that the deal would offer greater value to Spirit’s stakeholders than the company’s current restructuring plan.
Spirit Airlines has rejected yet another takeover bid by discount carrier Frontier Airlines of Denver, saying its debtholders rejected the idea.