Diamond Member Pelican Press 0 Posted January 29, 2025 Diamond Member Share Posted January 29, 2025 This is the hidden content, please Sign In or Sign Up Spirit Airlines rejects Frontier’s bid, expects to exit bankruptcy in first quarter (Reuters) – Spirit Airlines on Wednesday said it expects to exit bankruptcy in the first quarter and rejected a merger with rival Frontier Group, saying it was not favorable for the low-cost carrier. It received a proposal from Frontier earlier this month, where in its shareholders would $400 million in debt and a 19% share in Frontier, the company said in a regulatory filing. Spirit rejected the proposal as it would not provide the anticipated shareholder value and raised concerns over the timing and successful completion of the deal. The Florida-based airline declared bankruptcy in November after grappling with prolonged periods of financial losses, unsuccessful merger efforts and a substantial levels of debt. The airline said it expects to complete its restructuring process in the first quarter. (Reporting by Shivansh Tiwary in Bengaluru; Editing by Arun Koyyur) This is the hidden content, please Sign In or Sign Up #Spirit #Airlines #rejects #Frontiers #bid #expects #exit #bankruptcy #quarter This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up For verified travel tips and real support, visit: https://hopzone.eu/ 0 Quote Link to comment https://hopzone.eu/forums/topic/202963-spirit-airlines-rejects-frontier%E2%80%99s-bid-expects-to-exit-bankruptcy-in-first-quarter/ Share on other sites More sharing options...
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