{"id":89143,"date":"2025-02-15T06:11:06","date_gmt":"2025-02-15T06:11:06","guid":{"rendered":"https:\/\/peraltafinancing.com\/airline\/spirit-frontier-remain-at-odds-over-potential-merger-flyertalk\/"},"modified":"2025-02-15T06:11:06","modified_gmt":"2025-02-15T06:11:06","slug":"spirit-frontier-remain-at-odds-over-potential-merger-flyertalk","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=89143","title":{"rendered":"Spirit, Frontier Remain at Odds Over Potential Merger \u2013 FlyerTalk"},"content":{"rendered":"


\n<\/p>\n

\n
\n\t\t\t\t\t
\n\t\t\t\t\t\"\"\n\t\t\t\t<\/div>\n

\n\t\t\t\tFrontier Airlines continues to pursue a merger with Spirit Airlines, but Spirit is asking for more concessions than Frontier is willing to give.\t\t\t\t<\/p>\n

\n\t\t\t\tLeaders at Spirit Airlines say they would rather pursue their own course out of bankruptcy before offering the terms of Frontier Airlines\u2019 latest bid for a merger.\t\t\t\t<\/p>\n

\u00a0<\/p>\n

The Florida-based carrier gave the public an update<\/a> on February 12, 2025, offering a behind-the-scenes look at communications between the two companies as discussions continue.<\/p>\n

\u00a0<\/p>\n

Spirit Demands Debt Considerations, Breakup Fees in Merger<\/strong><\/h2>\n

The opening months of February saw a flurry of communication between Spirit and Frontier about a possible merger<\/a>, including entering confidentiality agreements with Spirit noteholders.<\/p>\n

\u00a0<\/p>\n

By February 7, 2025, Spirit sent Frontier a counterproposal for consideration. While their plan agreed to many of the points Frontier brought to the table, Spirit asked for $600 million in first lien takeback debt, around $1.2 billion of equity value in the combined airline, and a reverse termination fee if their merger was cancelled for reasons other than a spirit breach.<\/p>\n

\u00a0<\/p>\n

Frontier chief executive Barry Biffle and board chair Bill Franke pushed back on the proposal and resubmitted their own offering. In the e-mail to Spirit president Ted Christie, the two reiterated they believed \u201c\u2026this approach is the only way to fairly compare the two plans and we have detailed in our prior correspondence that our proposal is superior even using reduced valuation metrics to calculate the value delivered by either plan.\u201d<\/p>\n

\u00a0<\/p>\n

In turn, the Florida-based airline publicly announced they would \u201ccontinue swiftly to advance and conclude its restructuring process, which will significantly deleverage the Company and position it for long-term success.\u201d Spirit expects their restructuring to be complete in the first quarter of 2025.<\/p>\n

\u00a0<\/p>\n

Spirit and Frontier originally agreed to a $6 billion merger<\/a> in 2022, before it was ultimately broken up by a counter offer to Spirit from JetBlue<\/a>.<\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"

Frontier Airlines continues to pursue a merger with Spirit Airlines, but Spirit is asking for more concessions than Frontier is willing to give. Leaders at Spirit Airlines say they would rather pursue their own course out of bankruptcy before offering the terms of Frontier Airlines\u2019 latest bid for a merger. \u00a0 The Florida-based carrier gave […]<\/p>\n","protected":false},"author":1,"featured_media":89145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12028],"tags":[11310,12593,5167,11433,907,11265,15489,2105,27770,18833,11414,12732,25552,43378,3989,36654],"dealstore":[],"offerexpiration":[],"class_list":["post-89143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-airline","tag-acquisition","tag-airlines","tag-aviation","tag-bankruptcy","tag-business","tag-debt","tag-flyertalk","tag-frontier","tag-frontier-airlines","tag-merger","tag-odds","tag-potential","tag-remain","tag-restructuring","tag-spirit","tag-spirit-airlines"],"yoast_head":"\nSpirit, Frontier Remain at Odds Over Potential Merger \u2013 FlyerTalk - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=89143\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spirit, Frontier Remain at Odds Over Potential Merger \u2013 FlyerTalk - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Frontier Airlines continues to pursue a merger with Spirit Airlines, but Spirit is asking for more concessions than Frontier is willing to give. 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