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© Reuters. Spirit and Frontier Airways logos are seen on this illustration taken June 27, 2022. REUTERS/Dado Ruvic/Illustration
CHICAGO (Reuters) – Frontier Group Holdings Chief Government Barry Biffle mentioned on Monday the corporate’s revised provide for Spirit Airways (NYSE:) Inc will probably be sufficient to safe a merger cope with the ultra-low-cost provider.
“We’re actually enthusiastic about it and getting good suggestions,” Biffle advised Reuters in an interview.
Frontier has been vying with JetBlue Airways (NASDAQ:) Corp to accumulate Spirit. Both of the offers would create the fifth-largest U.S. airline.
Denver-based Frontier final week bumped up the money part of its provide for Spirit by $2 per share to $4.13 per share and agreed to prepay $2.22 per share as a money dividend to Spirit stockholders following approval of the transaction. It additionally elevated its reverse termination price to Spirit by $100 million to $350 million.
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