Frontier is buying Spirit Airlines in a $3 billion deal to create the nation’s fifth-largestcarrier.
The combination will raise competition and give travelers more options to fly to mid-sized cities as well as regions that are underserved, according to the companies.
"This transaction is centered around creating an aggressive ultra-low fare competitor to serve our Guests even better, expand career opportunities for our Team Members and increase competitive pressure, resulting in more consumer-friendly fares for the flying public" said Spirit CEO Ted Christie.
The cash and stock deal, on a combined basis, will produce annual revenues of $5.3 billion and synergies of $500 million once the deal is complete.
Frontier is buying Spirit Airlines in $3B deal
- by: FOXBusiness
- 02-07-2022
- Source:
Fox Business
- 02/07/2022
Frontier Airlines Airbus by Tomás Del Coro is licensed under flickr Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)
Frontier Airlines Airbus by Tomás Del Coro is licensed under flickr Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)
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