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    Frontier Purchases Spirit Airlines, Creates U.S.' Fifth-Largest Carrier

    Author: Editors Desk Source: Newsweek:
    February 7, 2022 at 15:27
    DANIEL SLIM/AFP VIA GETTY IMAGES
    DANIEL SLIM/AFP VIA GETTY IMAGES
    The merger is expected to close in the second half of this year, "subject to satisfaction of customary closing conditions, including completion of the regulatory review process and approval by Spirit stockholders," the release said. A spokesperson for Frontier told Newsweek that the name that the merged airlines will fly under will be determined at a later point in time

    Frontier Airlines is purchasing Spirit Airlines in a nearly $3 billion deal that will produce the fifth-largest carrier in the U.S.

    Frontier and Spirit said in a joint news release that they will provide more low-cost flying fares to more travelers in destinations across the U.S., Latin America and the Caribbean.

    "This transaction is centered around creating an aggressive ultra-low fare competitor to serve our guests even better, expand career opportunities for our team members and increase competitive pressure, resulting in more consumer-friendly fares for the flying public," Spirit CEO Ted Christie said in a statement.

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