USA: battle over air carrier Spirit Airlines
Frontier Airlines will not increase takeover bid against rival JetBlue
The management of US low-cost carrier Frontier Airlines has made it known in recent hours that it will further increase its bid to acquire low-cost carrier Spirit Airlines. The announcement brings the curtain down on the months-long bidding war with rival airline JetBlue Airways, with which it is vying for the deal with Spirit Airlines.
It is our "last and best offer". "In line with our recent discussions, Frontier does not intend to propose any further changes to the financial terms of the merger agreement", said the airline's CEO, Barry Biffle, in a letter sent to Spirit and quoted by the British news agency "Reuters".
In February Frontier and Spirit signed a cash-and-stock deal to merge and create a new low-cost company. It is a deal worth 2.4 billion dollars, on which shareholders delayed a vote on the deal for the third time. This was precisely because the airline JetBlue, which was interested in the purchase, had proposed to acquire Spirit Airlines for a higher figure: 3.7 billion dollars.
On the same topic see also the article published by AVIONEWS.
AVIONEWS - World Aeronautical Press Agency