Spirit Airlines has denied a merger proposal from Frontier Airlines, labeling it financially inadequate as it readies to exit bankruptcy. After Frontier's second attempt—submitting a lower offer than its previous $2.9 billion bid in 2022—Spirit expressed that the proposal was insufficient. Frontier aims to foster a low-fare airline through this merger, emphasizing the potential value for stakeholders; however, Spirit’s board has ruled out any serious considerations of the offer, stating it could hinder their bankruptcy exit strategy.
"We have long believed a combination with Spirit would allow us to unlock additional value-creation opportunities," said Barry Biffle, CEO of Frontier.
"The offer appears to be too little, too late," D'Aversa says.
Spirit's board believes Frontier's proposal is "so insufficient as not to merit a counter."
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