Spirit Airlines rejects Frontier Airlines’ new $ 2.16 billion ncvrs.com

• Spirit Airlines rejected the Frontier Group approx. $ 2.16 billion in acquisition bids.
• The Spirit and the Frontier have been in the merger negotiations since at least 2022, before Spirit went bankrupt in 2024.
• Spirit Airlines has filed a bankruptcy due to longer periods of financial losses and significant debt load.

On Tuesday, Spirit Airlines rejected the acquisition offer of the Frontier Group, worth about $ 2.16 billion, saying that the offer of Ultra low -cost carriers is less beneficial to shareholders than the ongoing reorganization plan.

Frontier’s bid was repeating its proposal earlier this month, with Spirit shareholders receiving $ 400 million in debt and 19% stake in the Frontier.

At the same time, he rejected the requirement that Spirit would fill a $ 350 million capital offering and use the revenue to withdraw a debtor-owned facility. This also requires the cancellation fee of $ 35 million approved by the bankruptcy court.

Spirit Airlines no longer allow passengers with inadequate clothing or tattoos to fly

The Spirit, which submitted bankruptcy last year and expects it to complete its restructuring in the first quarter, said that the revised proposal did not address any significant risks and issues he had previously identified.

On 12 February 2025, Spirit Airlines rejected Frontier Group’s latest acquisition offer of about $ 2.16 billion. (Reuters/Mike Blake/File Photo/Reuters)

Instead, a Florida-based airline offered a counterpropolos in which Spirit shareholders receive $ 600 million in debt and $ 1.185 billion in capital, which Frontier rejected.

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The two companies have been in the merger negotiations since at least 2022, before Spirit filed a bankruptcy procedure due to long -term financial losses and significant debt load.

However, the Jetblue Airways jumped into the trap and reigned. But this business was scrapped after an American judge blocked it about anti -competitive concerns.

Frontier revived his takeover efforts earlier this year, but Spirit said the first offer was lower than the two companies discussed last year and asked for the business to close and the border would not act.