Frontier bids $2.9 billion for rival budget airline Spirit
2 years, 10 months ago

Frontier bids $2.9 billion for rival budget airline Spirit

Associated Press  

Frontier Airlines and Spirit Airlines are proposing to combine in a $2.9 billion deal that would create a larger discount airline to compete against the nation’s dominant carriers and, they say, promote lower fares. “The Biden administration has made it very clear over the last year that they would like to promote competition in the airline space, and this is really an answer to returning balance from a competitive perspective to the big four,” Frontier CEO Barry Biffle said in an interview. Savanthi Syth, an airline analyst for Raymond James & Associates, said that because of the relatively small size of Frontier and Spirit, she wouldn’t expect antitrust issues “in a normal environment. That could take a matter of months,” said Franke, who was once Spirit’s chairman and whose Indigo Partners investment firm is now Frontier’s biggest shareholder.

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History of this topic

US budget carrier Spirit Airlines files for bankruptcy amid severe financial losses
1 month ago

US budget carrier Spirit Airlines files for bankruptcy amid severe financial losses

Hindustan Times  

US low-cost carrier Spirit Airlines grappling with financial woes on Monday announced it had filed for bankruptcy as part of a restructuring agreement with its creditors. US low-cost carrier Spirit Airlines grappling with financial woes announced on November 18, 2024, it had filed for bankruptcy as part of a restructuring agreement with its creditors. "Spirit has received backstopped commitments for …

Biggest US budget carrier Spirit Airlines files for bankruptcy as debt payments loom
1 month ago

Biggest US budget carrier Spirit Airlines files for bankruptcy as debt payments loom

Live Mint  

Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest U.S. budget airline, has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling …

Spirit Airlines Files For Bankruptcy As Financial Losses Pile Up And Debt Payments Loom
1 month ago

Spirit Airlines Files For Bankruptcy As Financial Losses Pile Up And Debt Payments Loom

Huff Post  

LOADING ERROR LOADING Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest U.S. budget airline, has lost more than $2.5 billion since the start of 2020 and faces looming …

Spirit Airlines prepares for bankruptcy - sparking fears of mass route cancellations across America
1 month, 1 week ago

Spirit Airlines prepares for bankruptcy - sparking fears of mass route cancellations across America

Daily Mail  

Spirit Airlines is preparing to file for bankruptcy protection after merger talks with Frontier Airlines nosedived - sparking fears among flyers about mass cancelations. Spirit airlines share price plunged 45 percent in aftermarket trading on Tuesday after news that it was set to file for bankruptcy was reported by the Wall Street Journal. Spirit executives saw the merger with JetBlue …

Spirit Airlines is going upscale. In a break from its history, it will offer fares with extra perks
4 months, 3 weeks ago

Spirit Airlines is going upscale. In a break from its history, it will offer fares with extra perks

Associated Press  

Spirit Airlines is moving farther away from its history as a fee-happy budget airline and will start selling tickets that include some of its most popular extras in bundles. CEO Ted Christie said the changes are “taking low-fare travel to new heights.” They also indicate the deep trouble with Spirit’s longtime business model. The airline with bright yellow planes hasn’t …

Frontier Airlines, stuck in a money-losing slump, is dumping change fees and making other moves
7 months, 1 week ago

Frontier Airlines, stuck in a money-losing slump, is dumping change fees and making other moves

Associated Press  

DENVER — Frontier Airlines, which has struggled more than other U.S. carriers to recover from the pandemic, says it is eliminating change fees on some tickets and creating four fare classes to boost its appeal to more travelers. Frontier, like rivals Spirit Airlines and Allegiant Air, advertises low fares but tacks on more fees than the larger carriers. But change …

JetBlue tells Spirit Airlines that it may terminate its $3.8 billion buyout offer challenged by US
10 months, 4 weeks ago

JetBlue tells Spirit Airlines that it may terminate its $3.8 billion buyout offer challenged by US

Associated Press  

NEW YORK — JetBlue Airways warned that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend after a federal judge blocked the deal, sending Spirit shares sharply lower Friday. Spirit shot back that it finds no reason to terminate the deal and will continue to meet its obligations, “and it expects JetBlue to …

With merger scuttled, Spirit Airlines faces an uncertain future. Is bankruptcy a possibility?
11 months, 1 week ago

With merger scuttled, Spirit Airlines faces an uncertain future. Is bankruptcy a possibility?

Associated Press  

Spirit Airlines hasn’t made money since before the pandemic, ticket sales haven’t bounced back as quickly as the carrier expected, and dozens of its planes will be grounded at times this year because of a problem with the engines. But a federal judge in Boston scuttled that plan by ruling Tuesday that JetBlue’s $3.8 billion proposal to buy Spirit violates …

Biden administration and JetBlue square off in court over Spirit deal
1 year, 1 month ago

Biden administration and JetBlue square off in court over Spirit deal

LA Times  

The Biden administration’s fight against consolidation in the airline industry is being tested in court in an antitrust lawsuit brought by the Justice Department over a deal between JetBlue and Spirit. But JetBlue lawyer Ryan Shores called the government’s objections “misguided” and told the judge that combining with Spirit was necessary for the two small carriers to better compete with …

JetBlue strikes a deal to sell Spirit’s LaGuardia operation if it succeeds in buying Spirit
1 year, 6 months ago

JetBlue strikes a deal to sell Spirit’s LaGuardia operation if it succeeds in buying Spirit

Associated Press  

JetBlue Airways said Thursday it has agreed to sell Spirit Airlines’ holdings at New York’s LaGuardia Airport to Frontier Airlines if it succeeds in buying Spirit. “We are committed to ensuring our combination with Spirit preserves ultra low-cost carrier access in New York,” JetBlue CEO Robin Hayes said. “We are pleased that this agreement with Frontier will maintain the same …

US sues to block JetBlue from buying Spirit Airlines
1 year, 9 months ago

US sues to block JetBlue from buying Spirit Airlines

Associated Press  

The Biden administration sued to block JetBlue Airways’ $3.8 billion purchase of Spirit Airlines, saying Tuesday that the deal would reduce competition and drive up air fares for consumers. The Justice Department said the tie-up would especially hurt cost-conscious travelers who depend on Spirit to find cheaper options to JetBlue and other airlines. “We said when we got the offer …

Spirit Airlines shareholders approve $3.8B sale to JetBlue
2 years, 2 months ago

Spirit Airlines shareholders approve $3.8B sale to JetBlue

Associated Press  

Spirit Airlines shareholders voted Wednesday to accept a $3.8 billion buyout from JetBlue Airways, but the deal could still face a challenge from federal antitrust regulators. JetBlue emerged as the winner in a bidding war with Frontier to acquire Spirit, the nation’s biggest budget airline. Wall Street widely expected shareholders to approve the sale after they forced Spirit to drop …

JetBlue is buying Spirit for $3.8 billion after bidding war
2 years, 4 months ago

JetBlue is buying Spirit for $3.8 billion after bidding war

Associated Press  

JetBlue Airways is buying Spirit Airlines for $3.8 billion in a deal that could increase competition at the top end of the U.S. airline industry while eliminating the largest discount airline for travelers on a tight budget. The agreement announced Thursday capped bidding war that began in April, and it came one day after Spirit’s attempt to merge with rival …

With Frontier deal dead, Spirit ponders sale to JetBlue
2 years, 4 months ago

With Frontier deal dead, Spirit ponders sale to JetBlue

Associated Press  

Spirit Airlines and Frontier Airlines agreed Wednesday to abandon their merger proposal, opening the way for JetBlue Airways to acquire Spirit after a months-long bidding war for the budget carrier. Spirit’s board stood by the Frontier deal for months, in the face of a higher-priced offer from JetBlue, by arguing that antitrust regulators would never let JetBlue buy the nation’s …

Frontier Airlines says it lacks the votes for Spirit merger
2 years, 5 months ago

Frontier Airlines says it lacks the votes for Spirit merger

Associated Press  

Frontier Airlines, facing likely defeat in its bid to merge with Spirit Airlines, says it is done with a bidding war and is asking for another delay in a shareholder vote on the deal. Frontier CEO Barry Biffle said in a letter made public Monday that his airline is “very far” from winning approval by Spirit shareholders, who are weighing …

Spirit’s delay allows airline bidding war time to play out
2 years, 5 months ago

Spirit’s delay allows airline bidding war time to play out

Associated Press  

NEW YORK — Shares of Spirit Airlines rose Thursday after it postponed a vote for the second time on a proposed merger with Frontier Airlines, allowing for a bidding war over the budget airline between Frontier and JetBlue Airways to play out. JetBlue CEO Robin Hayes said Spirit shareholders gave their board a mandate to negotiate a sale to his …

Merger vote at Spirit could reshape discount airline market
2 years, 5 months ago

Merger vote at Spirit could reshape discount airline market

Associated Press  

DALLAS — The prospect of a takeover of Spirit Airlines threatens to upend the cheap-fare end of the industry much like a series of mergers among big airlines reduced choices for travelers. Consumers, he said, “should be looking for continuation of a true low-fare, austere environment with the Spirit-Frontier combination.” Scott Keyes, the founder of Scott’s Cheap Flights travel site, …

Merger vote at Spirit could reshape discount airline market
2 years, 5 months ago

Merger vote at Spirit could reshape discount airline market

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Scott Keyes, the founder of Scott’s Cheap Flights travel …

Spirit expects to pick JetBlue or Frontier by month’s end
2 years, 6 months ago

Spirit expects to pick JetBlue or Frontier by month’s end

Live Mint  

Spirit Airlines Inc. expects to decide whether to merge with Frontier Group Holdings Inc. or JetBlue Airways Corp. by the end of the month, potentially ending a monthslong battle for the low-cost carrier. Spirit’s board said Tuesday that it expects to finish deal talks this month and update investors on which suitor they choose ahead of a June 30 stockholders …

Spirit Airlines delays shareholder meeting as it weighs Frontier, JetBlue bids
2 years, 6 months ago

Spirit Airlines delays shareholder meeting as it weighs Frontier, JetBlue bids

Live Mint  

Spirit Airlines Inc. has postponed a planned stockholder meeting on its proposed merger with Frontier Group Holdings Inc. as it weighs a competing bid from JetBlue Airways Corp. In May, JetBlue launched a hostile takeover after Spirit rejected JetBlue’s $3.6 billion bid, appealing to shareholders in hopes of pressuring Spirit management to reopen talks. William Franke, Frontier’s chairman, said that …

Spirit Airlines board urges shareholders to reject JetBlue offer
2 years, 7 months ago

Spirit Airlines board urges shareholders to reject JetBlue offer

Live Mint  

Spirit Airlines Inc.’s board is urging shareholders to reject a hostile takeover bid from JetBlue Airways Corp. and vote in favor of a tie-up with Frontier Group Holdings Inc. The board said in a statement that the unsolicited $30-per-share offer from JetBlue isn’t in Spirit’s best interest given the substantial regulatory hurdles the deal would face. Spirit Chairman Mac Gardner …

Spirit still prefers bid from Frontier Airlines over JetBlue
2 years, 7 months ago

Spirit still prefers bid from Frontier Airlines over JetBlue

Associated Press  

Spirit Airlines said Monday that it still supports Frontier Airlines’ $2.9 billion takeover bid for the airline, saying it was more likely to win regulatory approval than JetBlue’s competing $3.6 billion offer. Spirit said antitrust regulators are unlikely to approve JetBlue’s offer because of JetBlue’s alliance with American Airlines in the Northeast, a deal that the Justice Department is suing …

Smaller airlines pursue buyouts to bulk up amid recovery
2 years, 8 months ago

Smaller airlines pursue buyouts to bulk up amid recovery

Associated Press  

NEW YORK — Smaller airlines are looking to bulk up to take advantage of an expected recovery in air travel. Fleet size is a key motive for JetBlue’s recent bid to woo budget carrier Spirit Airlines and break up that company’s deal with rival Frontier. Adding Spirit’s current fleet would boost JetBlue’s by 60% to more than 450 planes. “The …

Spirit Airlines will talk to JetBlue about takeover bid
2 years, 8 months ago

Spirit Airlines will talk to JetBlue about takeover bid

Associated Press  

DALLAS — Spirit Airlines said late Thursday that it will talk to JetBlue Airways about its $3.6 billion bid to combine the two airlines, which appeared to leapfrog an earlier offer by Frontier Airlines. Spirit said that after speaking with financial and legal advisers, its directors believe JetBlue’s offer could “reasonably” turn out to be the better of the two …

Spirit Airlines will talk to JetBlue about takeover bid
2 years, 8 months ago

Spirit Airlines will talk to JetBlue about takeover bid

The Independent  

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JetBlue makes offer for Spirit Airlines, could spark bid war
2 years, 8 months ago

JetBlue makes offer for Spirit Airlines, could spark bid war

Associated Press  

JetBlue Airways has offered to buy Spirit Airlines for about $3.6 billion and break up a plan for Spirit to merge with rival budget carrier Frontier Airlines. In a statement, New York-based JetBlue said combining with Spirit would lead to lower fares by creating “the most compelling national low-fare challenger” to the nation’s four biggest airlines: American, Delta, United and …

Democrats say Spirit-Frontier merger could boost airfares
2 years, 9 months ago

Democrats say Spirit-Frontier merger could boost airfares

The Independent  

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Frontier Airlines buys Spirit for $2.9 billion in merger of low-cost carriers
2 years, 10 months ago

Frontier Airlines buys Spirit for $2.9 billion in merger of low-cost carriers

LA Times  

Frontier Airlines’ parent company is buying Spirit Airlines in a $2.9-billion deal to increase the airlines’ competitiveness against larger rivals. Frontier is buying Spirit Airlines in a $2.9-billion cash-and-stock deal that will create the nation’s fifth-largest carrier. Frontier Group Holdings and Spirit Airlines also anticipate $1 billion in annual consumer savings and are looking to expand their services with more …

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