Posted inBusiness, News

JetBlue agrees to buy Spirit Airlines for $3.8 billion after Frontier proposal falls apart

By Michelle Chapman, AP Business Writer JetBlue has agreed to buy Spirit Airlines in a $3.8 billion deal, a day after Spirit and Frontier Airlines agreed to abandon their merger proposal. JetBlue will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve […]

Posted inBusiness, News, Transportation

Frontier Airlines says it lacks the votes for Spirit merger

By David Koenig, The Associated Press Frontier Airlines, facing likely defeat in its bid to merge with Spirit Airlines, is asking for another delay in a shareholder vote on the deal. Frontier CEO Barry Biffle said in a letter made public Monday that his airline is “very far” from winning approval by Spirit shareholders, who […]

Posted inBusiness, News

Frontier sweetens its merger offer to Spirit Airlines with $250 million breakup fee 

Frontier Airlines sweetened its offer for Spirit Airlines on Thursday by adding a $250 million termination fee if Frontier fails to complete the acquisition of the rival discount carrier. The new offer was endorsed by directors of both airlines. Spirit CEO Ted Christie said shareholders have indicated support for the strategic reason to combine with […]

Posted inBusiness, News

Spirit Airlines plans June vote on merger offer from Denver-based Frontier

Spirit Airlines shareholders are scheduled to vote June 10 on a $2.9 billion buyout offer from Frontier Airlines. Shareholders will be voting, in effect, whether to take Frontier’s bid and reject a higher offer from JetBlue Airways. The special meeting was detailed in a regulatory filings by Spirit and Frontier. JetBlue did not immediately comment […]

Posted inBusiness, News

Spirit still prefers takeover bid from Denver-based Frontier Airlines over JetBlue

By David Koenig and Michelle Chapman, The Associated Press Spirit Airlines said Monday that it still supports Frontier Airlines’ $2.9 billion takeover bid for the airline, saying it was more likely to win regulatory approval than JetBlue’s competing $3.6 billion offer. Spirit said antitrust regulators are unlikely to approve JetBlue’s offer because of JetBlue’s alliance with […]

Posted inBusiness, News

Flight attendants settle discrimination lawsuit against Denver-based Frontier Airlines

Frontier Airlines has settled a discrimination lawsuit brought by a group of flight attendants who claimed the carrier discriminated against them during pregnancy and while breastfeeding. Denver-based Frontier agreed to keep or change several policies to address the needs of pregnant and lactating personnel in settling the litigation, the American Civil Liberties Union of Colorado, […]

Posted inBusiness, News

JetBlue makes offer for Spirit Airlines, could spark bidding war with Denver-based Frontier Airlines

By David Koenig, The Associated Press JetBlue Airways has offered to buy Spirit Airlines for about $3.6 billion and break up a plan for Spirit to merge with rival budget carrier Frontier Airlines. Spirit said Tuesday that it received an unsolicited bid from JetBlue. It said its board will evaluate the offer and decide what’s […]

Posted inBusiness, News

Denver-based Frontier Airlines buying Spirit in $3B low-cost carrier deal

By Michelle Chapman, The Associated Press Frontier is buying Spirit Airlines in a $2.9 billion cash-and-stock deal that will create the nation’s fifth largest carrier. The tie-up is valued at $6.6 billion when accounting for the assumption of debt and other liabilities. The companies said Monday that the transaction will provide more low-cost fares for […]

Posted inBusiness, News

Denver-based Frontier Airlines hopes its IPO rides the U.S. wave of travel recovery

By David Koenig, The Associated Press Frontier Airlines is betting that the budding recovery in leisure travel is for real. Shares of the discount carrier were expected to begin public trading Thursday. The Denver-based airline and its private owners hope to raise $570 million before costs from the IPO after pricing 30 million shares at […]