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2 year oldFrontier 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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