Frontier and Spirit Airlines, Announce $6.6 Billion Merger.<br />CNBC reports that Frontier Airlines and Spirit Airlines, the United States' two largest low-cost airlines, have agreed to a $6.6 billion merger. .<br />CNBC reports that Frontier Airlines and Spirit Airlines, the United States' two largest low-cost airlines, have agreed to a $6.6 billion merger. .<br />The move would reportedly create <br />the fifth-largest airline in the U.S. .<br />According to CNBC, the merger <br />would give Frontier Airlines a controlling <br />51.5% stake in the combined company.<br />According to CNBC, the merger <br />would give Frontier Airlines a controlling <br />51.5% stake in the combined company.<br />This transaction is centered around <br />creating an aggressive ultra-low fare <br />competitor to serve our guests even <br />better, expand career opportunities <br />for our team members and increase <br />competitive pressure, resulting in more <br />consumer-friendly fares for the flying public, Ted Christie, President and CEO of Spirit, via CNBC.<br />The deal was approved by the boards of both companies <br />and would be the first U.S. airline merger since <br />Virgin America and Alaska Airlines joined up in 2016. .<br />CNBC reports that Frontier Chairman Bill Franke said the merger, “will create America’s most competitive ultra-low <br />fare airline for the benefit of consumers.”.<br />CNBC reports that Frontier Chairman Bill Franke said the merger, “will create America’s most competitive ultra-low <br />fare airline for the benefit of consumers.”.<br />The new name of the combined <br />carrier has yet to be announced. .<br />Pending regulatory and shareholder <br />approval, the transaction is expected <br />to close in the second half of 2022. .<br />Pending regulatory and shareholder <br />approval, the transaction is expected <br />to close in the second half of 2022. .<br />CNBC points out that the news comes <br />as airlines are still trying to recover <br />from the effects of the pandemic.
