Frontier Purchases Spirit Airlines, Creates U.S’ Fifth Largest Carrier

Frontier Airlines is purchasing Spirit Airlines in a nearly $3 billion deal that will produce the fifth-largest carrier in the U.S.

Frontier and Spirit said in a joint news release that they will provide more low-cost flying fares to more travelers in destinations across the U.S., Latin America and the Caribbean.

“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,” Spirit CEO Ted Christie said in a statement.

Under the $2.9 billion cash-and-stock deal, the companies are also expecting $1 billion in annual consumer savings, foresee adding more jobs and are looking to expand their offerings with more than 350 aircraft on order, the Associated Press reported.

This is a breaking news story and will be updated as more information becomes available.

Frontier Airlines is purchasing Spirit Airlines in a nearly $3 billion deal that will produce the fifth-largest carrier in the U.S. A Frontier Airlines jet at Philadelphia International Airport on June 1, 2018, in Philadelphia.
Daniel Slim/AFP via Getty Images

Frontier Purchases Spirit Airlines, Creates U.S’ Fifth Largest Carrier
Source: Gwapo Pinoys PH

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