Frontier and Spirit airlines to merge
Baku, February 9, AZERTAC
Low-cost carriers Frontier Airlines and Spirit Airlines announced plans on Monday to merge, which would create the fifth-largest U.S. airline by revenue passenger miles, according to ABC News.
The deal, valued at more than $6 billion, would leave Frontier controlling 51.5% of the combined airline and Spirit with 48.5%.
Together the two airlines offer more than 1,000 daily flights to over 145 destinations in 19 countries with their all-Airbus fleets.
In a joint release, Spirit and Frontier said they expect the deal will allow them to add 10,000 direct jobs by 2026 without the need for layoffs.
The airlines estimate it will create $1 billion in annual savings for consumers.
"Together, Frontier and Spirit expect to change the industry for the benefit of consumers, bringing more ultra-low fares to more travelers in more destinations across the United States, Latin America and the Caribbean, including major cities as well as underserved communities," the airlines said.
Combined, the company would have annual revenues of approximately $5.3 billion based on 2021 results.
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