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US Budget Airline Frontier is trying to come together again with its cheap rival Spirit AirlinesThree years after the companies failed to implement a proposed merger.
The two airlines are the largest budget companies in the United States and all businesses between the two can reshape the US aviation industry.
Frontier tried to merge with the spirit of 2022 but was in the end of Jetblue. However, the US Justice Department sued to block the JetBlue business of $ 3.8 billion and said it would lead to higher prices for Spirit customers that depend on low prices.
A federal judge agreed with that assessment and the two airlines lost their fusion bid.
Frontier has now said that it is willing to pay $ 2.1 billion in stock and cash for spirit.
However, Spirit said it had rejected the offer, which was less than the $ 2.9 billion merger that the airlines announced in early 2022. It said it would welcome further negotiations.
According to The New York Times Spirit’s CEO Ted Christie and its chairman, Mac Gardner, said in a letter to Frontier leaders that the offer was too low.
In the letter, the heads were reported to have accepted the appeal of such a deal, but said that the current offer was “both insufficient and unreasonable.”
Frontier’s CEO Barry Biffle said that the merger would enable passengers to reap further savings.
“As a combined airline, we would be positioned to offer more options and deeper savings, as well as an improved travel experience with more reliable service,” New York Times reported that he said in a statement on Wednesday.
Spirit applied for bankruptcy protection in November. The largest US budget airline, Spirit filed a chapter 11 Bankruptcy after drawing up conditions with bonds.
The airline has dropped more than $ 2.5 billion since the beginning of 2020 and is facing slandered debt payments totaling more than $ 1 billion 2025 and 2026.
Budget airline In the United States, we have struggled under increased competition on popular routes in recent years.
