Frontier makes an offer to rescue Spirit Airlines | CNN Business

Jan 29, 2025 · Frontier Airlines is making another offer to merge with bankrupt Spirit Airlines, less than two years after a previous plan fell through.. Frontier said in a statement Wednesday that the ...

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Frontier Makes New Offer To Combine With Bankrupt Spirit Airlines …

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Frontier Group Holdings Inc.’s stock rose 1.5% early Wednesday, after the low-cost carrier said it has made a compelling new offer to combine with Spirit Airlines Inc. by issuing new debt and ...

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Frontier Airlines Offers To Buy Low-cost Rival Out Of Bankruptcy

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Jan 29, 2025 · Spirit said in the Jan. 28 letter that Frontier laid out a better proposal in August 2024 that offered the company $580 million in debt and 26.5% of Frontier's stock. But Frontier …

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FAQs about Frontier makes an offer to rescue Spirit Airlines | CNN Business Coupon?

Did frontier pursue Spirit Airlines before bankruptcy?

Frontier pursued Spirit prior to the bankruptcy filing in November but talks fell apart. Bankrupt Spirit Airlines Inc. rejected a new acquisition offer from the parent of Frontier Airlines but said it remains open to a long-discussed combination of the budget carriers. ...

Will frontier & spirit merge?

The two carriers were in talks for a possible combination before Spirit filed for bankruptcy. Frontier and Spirit first announced a deal to merge in 2022, but a higher JetBlue Airways all-cash offer derailed that plan. ...

Is a new frontier-spirit deal workable?

In a regulatory filing, Frontier included correspondence between the two airlines, with Spirit as recently as Tuesday concluding that a fresh deal is not workable as it’s too risky and costly and “woefully insufficient financially,” particularly compared with the deal agreed last summer and fall “from which Frontier unilaterally walked away.” ...

Could a new transaction be agreed on with Frontier Airlines?

The airline is prepared to continue discussions and believes a new transaction could be agreed on. Frontier shares rose 1.9% at 9:37 a.m. Wednesday in New York. Spirit filed for Chapter 11 protection in November after its business deteriorated in the wake of the failed JetBlue deal. ...

What does frontier's new merger plan entail?

Frontier's new merger plan offered Spirit's debtors $400 million and a 19% stake in Frontier. It also proposed Spirit creditors provide $350 million in new funding, Spirit said. The Spirit executives called Frontier's proposal "risky and costly, with no certainty as to either timing or outcome" and "woefully insufficient financially." ...

What if spirit went bankrupt?

Spirit’s bankruptcy plan would hand control of the carrier to its bondholders and wipe out shareholders’ existing equity with no compensation. The carrier said it rejected the latest Frontier offer in part because it would require noteholders to invest $350 million in equity. ...