Unique Crypto Strategies
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Unique Crypto Strategies

Business

Frontier Airlines proposes merging with fellow budget carrier Spirit — again

by January 30, 2025
January 30, 2025
Frontier Airlines proposes merging with fellow budget carrier Spirit — again

Frontier Airlines said Wednesday it has again proposed merging with struggling rival Spirit Airlines, which is in bankruptcy.

Frontier and Spirit first announced a deal to merge in 2022, but a JetBlue Airways offer derailed that plan. JetBlue’s proposed acquisition of Spirit was blocked by a federal judge last year, and Spirit filed for bankruptcy protection in November.

Frontier said in a release that it has met with Spirit’s board and executives since it made its proposal this month. Frontier executives said in a email to counterparts at Spirit this week that their plan is better than Spirit’s own plan to emerge from bankruptcy.

“We continue to believe that under the current standalone plan, Spirit will emerge highly levered, losing money at the operating level, and this would not be a transaction we would pursue,” wrote Frontier Chairman Bill Franke and CEO Barry Biffle in a Tuesday email to Spirit Chairman Mac Gardner and CEO Ted Christie. “As a result, time is of the essence.”

Christie and Gardner told their Frontier counterparts that they were rejecting the deal, calling the terms “inadequate and unactionable,” according to a letter shared in a securities filing on Wednesday.

Spirit said it expects to exit Chapter 11 bankruptcy this quarter. It has cut costs recently, including by slashing some 200 jobs and selling some of its Airbus planes. The airline had also been particularly challenged by a Pratt & Whitney engine recall that grounded dozens of its jets.

Budget carriers like Frontier and Spirit have struggled post-pandemic, as costs like salaries have risen and consumers have opted for trips abroad on carriers with options for roomier and more expensive seats.

Both Frontier and Spirit have been working to upend their business models that were marked by low fares and fees for add-ons from seat assignments to cabin baggage.

The airlines last year did away with cancellation and change fees for some of their tickets and started bundling perks along with tickets. Frontier last year said it would start offering a premium section at the front of the plane.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Two Water Wells Completed & Staking Finalised at Lo Herma
next post
Senate advances Trump’s pick to lead the US Interior, Doug Burgum, to confirmation vote

You may also like

Argentine President Milei faces impeachment calls for promoting...

Amazon AI scammers duped investors out of millions...

GM to invest $625 million in joint venture...

Dick’s Sporting Goods is latest retailer to forecast...

U.S. Steel CEO appeals to Trump after Biden...

How the New York Mets can justify paying...

With Trump all-in on crypto, bitcoin bulls bet...

McDonald’s preparing a 2025 ‘McValue’ offering

Why Honeywell CEO Vimal Kapur doesn’t think the...

Trump Organization sues Capital One bank over account...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Cardiex Completes Placement & Launches Entitlement Offer

    • CDX May Investor Presentation

    • President Trump teases ‘last day, but not really’ for Elon Musk at DOGE: Oval Office presser set for Friday

    • Trump denounces court’s ‘political’ tariff decision, calls on Supreme Court to act quickly

    • Nuvau Minerals Inc. Announces Grant of Options

    Categories

    • Business (477)
    • Investing (2,264)
    • Politics (3,709)
    • Uncategorized (1)
    • World (2,387)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: uniquecryptostrategies.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 uniquecryptostrategies.com | All Rights Reserved


    Back To Top