February07, 2022

Consumers Win With $1 Billion in Annual Savings and Even More Ultra-Low Fares to More Places

Combined Airline to Drive Competition and Expand Service to Underserved Small and Mid-Sized Cities Across the United States

Combined Fleet Will Be the Youngest, Most Fuel-Efficient and Greenest in the United States

Combination Provides Better Opportunities and More Stability for 15,000 Professionals, Adding 10,000 Direct Jobs by 2026

Conference Call to Discuss Transaction Today at 6:30 AM MT / 8:30 AM ET

Denver, Colo. and Miramar, Fla., February 7, 2022 – Spirit Airlines, Inc. (“Spirit”) (NYSE: SAVE) andFrontier Group Holdings, Inc. (“Frontier”) (NASDAQ: ULCC), parent company of Frontier Airlines, Inc., today announced a definitive merger agreement under which the companies will combine, creating America’s most competitive ultra-low fare airline.

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 stronger financial profile of the combined company will empower it to accelerate investment in innovation and growth and compete even more aggressively, especially against the dominant “Big Four”[1] airlines, among others.

William A. Franke, the Chair of Frontier’s Board of Directors and the managing partner of Indigo Partners, Frontier’s majority shareholder, noted that Indigo has a long history with both Spirit and Frontier, and is proud to partner with them in creating a disruptive airline. “We worked jointly with the Board of Directors and senior management team across both carriers to arrive at a combination of two complementary businesses that together will create America’s most competitive ultra-low fare airline for the benefit of consumers.”

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