This communication is for informational purposes only and is not intended to and does not constitute an offer to sell, or the solicitation of an offer to subscribe for or buy, or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, sale or solicitation would be unlawful, prior to registration or qualification under the securities laws of any such jurisdiction. carriers when measured by ASMs per fuel gallon consumed. The use of these aircraft, Frontier’s seating configuration, weight-saving tactics and baggage process have all contributed to Frontier’s continued ability to be the most fuel-efficient of all major U.S. is serving as financial advisor and Latham & Watkins, LLP is serving as legal advisor to Frontier.įrontier Airlines ( ULCC) is committed to “Low Fares Done Right.” Headquartered in Denver, Colorado, the company operates more than 110 A320 family aircraft and has among the largest A320neo family fleet in the U.S. The Transport Workers Union (“TWU”) has publicly stated that it opposes JetBlue’s proposed hostile takeover, noting JetBlue’s intentions to eliminate thousands of jobs and low-cost flight options for customers as part of its proposal.Ĭitigroup Global Markets Inc. JetBlue has stated it will reduce capacity and raise fares on Spirit routes.
Spirit shareholders will own approximately 48.5% of the combined company, providing them the opportunity to participate in the full pandemic recovery and upside from the expected synergies. Once combined, Frontier and Spirit expect to deliver annual run-rate operating synergies of $500 million after full integration is completed. Together, Frontier and Spirit are expected to drive enhanced value for shareholders of both companies.
We remain focused on moving forward with Spirit to drive competition and deliver enhanced value to all of our stakeholders.” We continue to believe that JetBlue is worried about increased competition and put forward a proposal for a transaction that, simply put, can’t be completed. He continued, “The Spirit Board of Directors took the right step in urging its shareholders to reject JetBlue’s proposal and vote FOR the merger with Frontier.
Together, we will super-charge the ultra-low-cost carrier model and create an even better option for consumers. “We are working with Spirit to complete our merger and create a true nationwide ultra-low fare airline to compete against the dominant ‘Big Four’ airlines and other high-cost airlines, including JetBlue. “We are pleased that the Spirit Board of Directors has again reaffirmed its commitment to combining with Frontier, which increases competition by bringing more ultra-low fares to more travelers and delivering substantial shareholder value,” said Barry Biffle, President and CEO of Frontier. (“Frontier”) ( ULCC), parent company of Frontier Airlines, Inc., today commented on Spirit Airlines’ (“Spirit”) (: SAVE) announcement that it is urging shareholders to reject JetBlue Airways’ (“JetBlue”) unsolicited tender offer to acquire all outstanding shares of Spirit's common stock. Frontier Supports Spirit Airlines in Urging its Shareholders to Reject JetBlue Tender Offer in Favor of More Value for All Stakeholders in Frontier CombinationĭENVER, (GLOBE NEWSWIRE) - Frontier Group Holdings, Inc.