MIRAMAR- Spirit Airlines (NK) has once again rejects a merger proposal from Frontier Airlines (F9), opting to proceed with its Chapter 11 restructuring independently.
This marks the third rejection of Frontier’s acquisition attempts, highlighting Spirit’s commitment to its financial recovery plan.
Photo: Clément AlloingSpirit Airlines Rejects Frontier Merger
Frontier Airlines (F9), based in Denver, recently proposed a $400 million acquisition deal to merge with Spirit Airlines (NK).
The merger would have positioned the combined airline as the fifth largest in the US and a formidable competitor to the nation’s dominant carriers.
However, Spirit’s leadership deemed the offer inadequate and opted to continue its restructuring efforts.
Ted Christie, CEO of Spirit Airlines, previously criticized the offer as “woefully insufficient,” according to SEC filings.
The rejection underscores Spirit’s strategic decision to pursue long-term financial stability rather than accept an undervalued buyout.
Photo: Clément AlloingHistory of Rejected Merger Attempts
Frontier’s latest proposal follows two prior failed attempts. The first, in 2022, was derailed when JetBlue submitted a competing bid.
That deal ultimately collapsed due to a successful legal challenge by the US Department of Justice, citing concerns over reduced competition.
In 2023, Frontier returned with a $580 million offer that would have given Spirit’s shareholders a 26.5% stake in the merged company.
Despite months of negotiations, Frontier withdrew from discussions, leaving Spirit to initiate its Chapter 11 bankruptcy process through a structured financial plan.
The latest bid, made in early 2025, included a reduced $400 million valuation and 19% equity for Frontier’s shareholders.
Spirit countered with a revised proposal, but Frontier rejected it outright on February 10.
Photo: By Tomás Del Coro from Las Vegas, Nevada, USA – N903NK Spirit Airlines 2016 Airbus A320-271N – cn 7011, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=58158083Spirit Airlines Bankruptcy
Spirit Airlines remains focused on finalizing its bankruptcy proceedings. The airline stated that it will continue its restructuring process to reduce debt and establish a stable financial footing.
Nearly all voting creditors have approved Spirit’s reorganization plan, with a confirmation hearing scheduled for Thursday.
Despite external acquisition pressures, Spirit remains committed to executing its recovery strategy, ensuring its ability to operate independently and strengthen its market position.
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The post Spirit Airlines Rejects Merger Offer From Frontier and Focusing on Bankruptcy appeared first on Aviation A2Z.
