Open Modal
kelly_safe

On Air Now

The Greg Kelly Show
Weekdays 1-3PM
logo-1071-talkradio-png-2
kelly_safe

On Air Now

The Greg Kelly Show
Weekdays 1-3PM

Frontier Airlines Buying Spirit in $3B Low-Cost Carrier Deal

(AP)-Frontier Airlines’ parent company is buying Spirit Airlines in a $2.9 billion cash-and-stock deal that will allow the combined airline to be more competitive against its larger rivals.

Spirit shareholders will receive 1.9126 shares of Frontier plus $2.13 in cash for each existing Spirit share they own. This implies a value of $25.83 per Spirit share at Frontier’s closing stock price of $12.39 on Friday.

The deal is valued at $6.6 billion when accounting for the assumption of debt and operating lease liabilities.

“Copyright 2021 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.”

WABC Top Stories

Loading...
sports_video_header3