Spirit Airlines Rejects Frontier’s Merger Proposal, Opts for Independent Restructuring

Spirit Airlines has declined a merger proposal from Frontier Group Holdings, choosing instead to pursue its own restructuring plan to emerge from Chapter 11 bankruptcy. The decision underscores Spirit's commitment to an independent path forward, despite ongoing financial challenges.

Frontier's proposal, submitted earlier this month, offered Spirit shareholders $400 million in debt and a 19% stake in Frontier, valuing the deal at approximately $2.16 billion. Spirit's management, however, determined that the offer was financially inadequate and raised concerns about the timing and likelihood of the deal's completion. In a letter to Frontier, Spirit CEO Ted. . .