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Travel Radar - Aviation News > News > Aviation > Airline Economics > Frontier makes a second bid for Spirit Airlines
Airline EconomicsAviation

Frontier makes a second bid for Spirit Airlines

Anastasiya Kharitonova-Trofimova
Last updated: 29 January 2025 18:53
By Anastasiya Kharitonova-Trofimova
4 Min Read
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Spirit Airlines 2016 Airbus A320-271N
Spirit Airlines 2016 Airbus A320-271N © Tomás Del Coro
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Frontier Airlines has made a second bid to merge with Spirit Airlines, a low-cost American airline that declared Chapter 11 bankruptcy late last year. This is Frontier’s second attempt at merging; they previously attempted to merge with Spirit Airlines back in 2022. Although Frontier was optimistic about the new bid, Spirit has chosen to continue with their own reconstruction process.

Airbus A319 (Frontier Airlines)
Airbus A319 (Frontier Airlines) © Eddie Maloney

Spirit Airlines Chapter 11 Bankruptcy

 

Spirit Airlines filed for Chapter 11 bankruptcy back in November 2024, entering a Restructuring Support Agreement (RSA). The ultra-low-cost carrier was struggling financially after the US Justice Department blocked their merger with JetBlue Airways in January 2024. Blocking the merger meant Spirit Airlines was unable to keep up with the rising low-cost carrier competition. A merger with JetBlue Airways would have gained a 10% US market share, securing Spirit Airlines position among competitors. Judge William G. Young of the U.S. District Court for the District of Massachusetts ruled against the merger, siding with the Justice Department, believing that the merger would be harmful to the competition amongst low-cost airlines.

 

When filing for Chapter 11 bankruptcy, Spirit Airlines aimed to financially stabilise, receiving commitments for a $350 million equity investment from bondholders and developing a reconstruction plan. With a $300 million post-bankruptcy credit facility agreement secured from existing debtholders, the airline is planning on exiting bankruptcy in early 2025.

Spirit Airlines planes parked at the closed George Bush Intercontinental Airport
Spirit Airlines planes parked at the closed George Bush Intercontinental Airport © David J. Phillip

Frontier Airlines bid

 

Frontier Group Holdings Inc., the parent company of Frontier Airlines, has made a second bid to merge with Spirit Airlines, including issuing Frontier debt and common stock in the deal. They believe that the deal would strengthen Spirit Airlines, being more effective than their current reconstruction plan. Chair Bill Franke commented that the merger would allow for the long-term ability to compete with other airlines, which was an issue Spirit Airlines had been struggling with.

 

Frontier Chair Bill Franke said in a statement:

 

“We stand ready to continue discussions with Spirit and its financial stakeholders and believe that we can promptly reach agreement on a transaction.”

 

Frontier Airlines had already made a bid for Spirit Airlines back in 2022, proposing to merge in a $2.9 billion deal that would help establish a more secure position for both ultra-low-cost carriers among the current competition. However, JetBlue Airways outbid Frontier, a deal that the Justice Department eventually blocked.

 

Spirit Airlines released in a regulatory filing that it found that the deal proposed by Frontier would be less effective and beneficial to its shareholders than if it continued with its current plan. The low-cost carrier is aiming to exit Chapter 11 bankruptcy protection in the first quarter of 2025, with their existing plan working on restructuring and enhancing their liquidity.

What do you think about Frontiers bid for Spirit Airlines? Let us know in the comments below 

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Anastasiya Kharitonova-Trofimova
ByAnastasiya Kharitonova-Trofimova
Aviation Reporter - A second year international politics student from City, university of London, Anastasiya is a journalism intern with a keen interest in aviation and travel industries.
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