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Benzinga
Benzinga
Business
Akanksha Bakshi

Spirit Airlines Sticks To Merger With Frontier

  • Spirit Airlines Inc (NYSE:SAVE) reaffirmed its commitment to its merger agreement with Frontier Group Holdings Inc. (NASDAQ:ULCC), the parent company of Frontier Airlines, Inc.
  • The affirmation comes after JetBlue Airways Corp (NASDAQ:JBLU) proposed yet another upgrade to its takeover proposal.
  • Related: JetBlue Modifies Spirit Proposal; Urges Spirit Shareholders Vote Against Frontier Offer
  • Spirit CEO Ted Christie stated, "We are focused on proceeding with our agreement with Frontier, and we appreciate the continued support of ISS and Glass Lewis as well as the feedback from many stockholders who intend to vote in support of the transaction."
  • The JetBlue "ticking fee" has no economic effect for 18 months after signing, stated Spirit.
  • The company reiterated its recommendation for stockholders to vote for the Frontier deal on the white proxy card ahead of the special meeting of stockholders on June 30, 2022.
  • Price Action: SAVE shares are trading higher by 2.10% at $23.05, JBLU +0.57% at $8.81, and ULCC +2.88% at $9.63 on the last check Tuesday.
  • Photo Via Wikimedia Commons
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