Since the federal judge has stopped Jetblue Airways, many changes have taken place this year (jblu. From obtaining low -cost airlines, spiritual airlines (save. Due to the problem of anti -Torais, it was $ 3.6 billion.
After a series of unprofitable dormitory, SPIRIT was an application for bankruptcy protection in Chapter 11, November 2024. Although the operator continues to operate on domestic and international routes as usual, it involves its future doubts.
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Although low -cost airlines operating in Florida in Florida have a strong brand and extremely loyal customer base since 1992, the direction of forward is more than $ 1 billion, and the extended debt will require major reorganization and investors to accept.
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Frontier said the “convincing suggestion” of the purchase of spirit
The possibility of repeated floating is merging with border airlines (Feron. Essence On January 29, Denver’s low -cost carrier said, “Through the issuance of newly issued border debts and ordinary stocks, a convincing proposal is proposed to combine with the spirit.”
The airline proposed for the first time in 2022 to purchase Frontier, but eventually exceeded the large quotation of JetBlue. The merger was canceled, and when the Trump administration promised to make a second attempt for the aviation industry, Frontier made a second attempt.
Related: Talk about the spirit/border merger and start again
Frontier CEO Barry Biffle said in a statement: “We have always believed that the combination of spirit will enable us to release more value -added opportunities.” “As a United Airlines, we will be able to provide more with more Choose and deeper saves, and provide a more reliable service travel experience. “
Spirit said in another document that the offer was first proposed on January 7, including paying $ 400 million mortgage debt, and providing 19 % Frontier Airlines shares to Spirit Airlines, with a total valuation of US $ 2.1 billion Essence
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Psychological executive: Insufficient border suggestions
Although the two airlines have been conducting closed talks to discuss the details of the proposal in the past three weeks, TED Christie, CEO of Spirit CEO, and H. McIntyre Gardner, the chairman, said that the proposal “is not enough to resolve the border. “Many flaws”.
According to reports, Christie told the Border: “Please note that we have discussed a new border proposal with the consultant.” “We have told them that your current proposal is not enough to be suitable for counters.”
Christie also said that the airline had a closed talks with Frontier. In the summer of 2024, Frontier’s proposal included $ 580 million mortgage debt and 26.5 % equity.
The current proposal is less than the previous proposal, but the position after the spirit of the spirit is more unstable.
The biggest problem proposed by Christie is that the proposal did not solve the SPIRIT request to bring out a $ 350 million debt financing of 350 million US dollars during bankruptcy.
Frontier’s file premise that it will be resolved with creditors before the merger is completed.
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