Frontier Airlines, Inc.'s parent company Frontier Group Holdings, Inc. confirmed on Wednesday that it made "a compelling proposal" to merge with Spirit Airlines, Inc., which filed for bankruptcy protection back in November.
The company said that the proposed transaction would bring significant value to Spirit's financial stakeholders, adding that they would be able to profit from a stronger low-cost carrier after a potential merger.
"While we are pleased with the strong results Frontier has been able to deliver through the execution of our business strategy, we have long believed a combination with Spirit would allow us to unlock additional value creation opportunities," Frontier CEO Barry Biffle stated. "As a combined airline, we would be positioned to offer more options and deeper savings, as well as an enhanced travel experience with more reliable service," he concluded.
