Spirit Airlines rejected Frontier Airlines’s second merger bid, opting to continue on its current path to emerge from bankruptcy.
The low-cost airline filed for bankruptcy last year after the Justice Department blocked a proposed merger with JetBlue. Before JetBlue’s offer, Frontier offered a $2.9 billion merger deal to Spirit, which the airline appeared likely to take until JetBlue countered. Frontier publicly announced a second offer to merge with Spirit in a press release Wednesday.
“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 said in a statement announcing the offer. “As a combined airline, we would be positioned to offer more options and…
