Holdings Inc. agreed to buy
Spirit Airlines Inc.
in a deal valued at $6.6 billion that unites two of the country’s largest low-fare carriers.
The consolidation comes as the travel industry continues to claw its way back toward prepandemic levels despite higher costs, labor shortages and disruptions caused by Covid-19. In the latest quarter, the emergence of the Omicron variant disrupted what industry officials expected to be a smooth and profitable holiday travel season.
Upon the deal’s close, Frontier will own about 51.5% of the combined company, and its chairman,
William Franke,
will become chairman of the combined company’s board.
“This…
