Markets

Frontier to Buy Spirit Airlines

As people who ride in planes and do not own planes, we are looking forward to experiencing ‘value for everyone.’
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Frontier to Buy Spirit Airlines

The $2.9 billion deal will pay out nearly 2 Frontier shares and $2.13 for each Spirit share, implying a value of $25.83 for each of the Spirit shares sold in the deal. Frontier shareholders will own 51.5% of the combined company and name 7 of the 12 directors.

With the leisure travel industry recovering more quickly, ultradiscounter airlines like Frontier and Spirit stand to see rapid growth as travel returns to normal. Spirit Chairman Mac Gardner has called the deal "all about growth, opportunities and creating value for everyone."

Telling it like it is — As people who ride in planes and do not own planes, we are looking forward to experiencing ‘value for everyone.’

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