Skip to Content
AP National Business

Frontier bids $3B for Spirit hoping for major budget carrier

<i></i><br/>
KMIZ

By
Published 10:18 AM

By MICHELLE CHAPMAN
AP Business Writer

Frontier Airlines’ parent company is buying Spirit Airlines in a $2.9 billion cash-and-stock deal that will allow the combined airline to be more competitive against its larger rivals. Spirit shareholders will receive 1.9126 shares of Frontier plus $2.13 in cash for each existing Spirit share they own. This implies a value of $25.83 per Spirit share at Frontier’s closing stock price of $12.39 on Friday. The deal is valued at $6.6 billion when accounting for the assumption of debt and operating lease liabilities.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content