Spirit rejects Frontier's $2.1B merger offer as insufficient

Despite exchanges and presentations from Frontier, Christie and Gardner reiterated that many deficiencies remained unaddressed. These included demands for new funding from creditors and uncertainties regarding merger risks and costs.

Barry Biffle, CEO of Frontier Airlines, noted that waiting until Spirit exits bankruptcy would leave it highly leveraged—a situation unattractive for a transaction. He emphasized the need for immediate control over both companies to stabilize operations.

Frontier argued that merging would create a low-cost carrier capable of competing with major airlines in the U.S., but acknowledged execution risks in Spirit’s independent plans. Despite this rejection, Spirit indicated openness to reconsider if material deficiencies were addressed.

The two airlines previously attempted a merger in 2022 but were outbid by JetBlue. However, legal challenges halted the JetBlue-Spirit merger by early 2024 due to concerns about consumer impact on low-cost travel options within the U.S.