Spirit Airlines rejects new Frontier Airlines bid
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Frontier Airlines is courting struggling Spirit Airlines again.
Frontier is back on the scene with another offer to buy the budget airline.
This would allow Spirit to exit bankruptcy proceedings, Frontier says.
However, Spirit quickly rejected the bid for being too low.
Frontier lost out in a bidding war with JetBlue Airways but the JetBlue-Spirit planned merger was blocked due to competition concerns.
Frontier Group Holdings said the bid proposal deal includes newly issued debt and common stock.
Spirit filed for bankruptcy protection late last year and has been slashing costs with underperforming routes scrapped and downsizing its workforce.
It says it has lost more than $2.5 billion since the Covid pandemic.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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