Frontier Airways and Spirit Airways, each identified for his or her price range costs for flights, introduced their merger Monday. Collectively the airways hope to create a aggressive low-fare airline.
“This transaction is centered round creating an aggressive ultra-low fare competitor to serve our company even higher, broaden profession alternatives for our group members and improve aggressive strain, leading to extra consumer-friendly fares for the flying public,” stated Spirit CEO Ted Christie in a launch.
The brand new airline will supply 1,000 each day flights to greater than 145 locations in 19 nations, and have a fleet of over 350 aircrafts. Frontier will management 51.5% of the merged airline, whereas Spirit will management the remaining 48.5%. This merger would create the fifth largest airline within the US, following American, Delta, Southwest and United.
The deal, which is valued at $6.6 billion, is predicted to shut within the second half of 2022 following approval from US antitrust regulators.