A Frontier Airplane near Spirit Airplane at Fort Lord Dale Hollywood International Airport on May 16, 2022 at Fort Lord Dale, Florida.
Joe RAEDLE | Getty Image
bankruptcy Spirit airline He said he would refuse a new merger offer from a rival budget carrier Frontier air。
Frontier said on Wednesday that he had met the Spirit Board of Directors and executives since he made a proposal for debt and inventory earlier this month. The frontier executive said this week in an email to the Spirit counter part that their plan was better than the spirit of Spirit, which appears from bankruptcy.
“Under the current standalon plan, I keep believing that the spirit is very utilized and I will lose money at the operating level. This is not the transaction we pursued,” Spirit Chairman Mac Gardner and CEO. To Ted Christie. “As a result, time is essential.”
CHRISTIE and GARDNER said that they refused to deal with the Frontier counter part and called “inadequate and invalid”, according to letters shared in the securities submitted on Wednesday.
Frontier’s new merger plan provided $ 400 million and 19 % of Frontier.
Frontier and Spirit first announced the merger in 2022, Jetblue Airways All cash -off that derailed the plan. The planned acquisition of Jet Blue Spirit was blocked last year by Federal Affairs, and the spirit applied for bankruptcy protection in November.
Spirit is scheduled to end the bankruptcy of Chapter 11 in the quarter of the year, has a date of the court on February 13, and will confirm its plan to wipe out the debtor’s shareholders. In recent months, we have raced to reduce costs, such as reducing about 200 employment and selling some of the airbus airplanes.
Budget -like careers, such as frontia and spirit, have been struggling after pandemics because the cost of salaries has increased and consumers have chosen a traveling airline travel with more expensive and expensive seating options. Spirit has also been particularly challenged by Plat & Whitney’s engine recall.
Both the frontier and the spirit have been working on overturning business models marked by low fare and rates from the assignment of seats to cabin baggage.
Last year’s airline abolished some tickets and changes fees, and began binding with tickets. Frontier said last year that it would begin to provide a premium section in front of the plane.
