Frontier Airlines has proposed a new takeover bid for Spirit Airlines, which was rejected as "woefully insufficient financially." Spirit, currently in Chapter 11 bankruptcy since November, aims to exit proceedings by early 2025. Frontier's proposal supposedly represents a compelling opportunity, promising stronger competition in the low-fare airline sector. While both airlines had previously explored merger discussions, a past bid was disrupted by rival offers and legal setbacks. Frontier believes a merger could enhance both airlines’ operational viability and market competitiveness, potentially funded through new debt and stock issuance.
Spirit rejected the offer, calling it "woefully insufficient financially."
Frontier said a merger would help create "long-term viability" for both airlines.
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