Category Archives: Frontier Airlines (2nd)

JetBlue comments on the Frontier-Spirit announcement

"All Wrapped Up in Blue"

JetBlue Airways has issued the following statement regarding the revised Frontier-Spirit merger agreement:

We continue to believe JetBlue’s proposal is decisively superior to the Frontier transaction, even considering its revised terms, and it continues to offer Spirit shareholders significantly more value, more cash, more certainty, and more regulatory protections.

JetBlue offers $33.50 per Spirit share in cash, a very significant 38%1 premium to the implied market value of the amended Frontier transaction. Also, importantly the incremental $2.00 per Spirit share offered by Frontier are effectively being paid by Spirit shareholders through their ownership in the combined company, therefore resulting in only approximately $1 of incremental economic value.

We will more thoroughly review and assess the revised terms of the Frontier-Spirit merger agreement, and we intend to continue our “vote no” campaign against the inferior Frontier transaction at the special meeting.

Since our initial proposal was made public on April 5, Spirit’s share price performance has reflected its shareholders’ overwhelmingly positive view of our offer, and their confidence in our ability to achieve regulatory clearance of the transaction, an outcome which remains supported by outside regulatory experts’ analysis.

The conflicted Spirit Board continues to rely on a series of mischaracterizations to justify an inferior deal – about the regulatory situation, that is at odds with the views of outside experts that our transaction can get done; about the Northeast Alliance, despite the overwhelming facts supporting its pro-competitive nature; and about the impact of the changing industry environment, including competition for pilots. Adding to these misrepresentations, the Spirit Board is now claiming they have served their shareholders by accepting a revised Frontier proposal, an act which does not change the fundamental superiority of our transaction, agreeing, among other things, in exchange for underwhelming financial concessions, to weaken Spirit shareholders’ governance in the combined company through less board representation.

Top Copyright Photo: JetBlue Airways Airbus A320-232 N636JB (msn 2755) (Spotlight) LAX (Michael B. Ing). Image: 957969.

JetBlue aircraft photo gallery:

JetBlue aircraft slide show:

Spirit Airlines receives an improved offer from Frontier Airlines, board still prefers Frontier’s offer

Spirit Airlines Airbus A320-271N WL N943NK (msn 10563) IAH (Jarrod Wilkening). Image: 957968.

The bidding war for Spirit Airlines continues between Frontier Airlines and JetBlue Airways.

On Friday, Frontier increased its bid by bumping up its cash component of the deal by $2 per share to $4.13 per share. This also includes 1.9126 Frontier shares for the cash-and-stock offer.

Frontier will also prepay $2.22 per share as a cash dividend to all Spirit stockholders subject to the approval of the buy-out.

Frontier has also increased its termination fee to Spirit Airlines to $350 million.

Frontier also urged all Spirit stockholders to approve the Frontier offer.

Spirit shareholders will vote on the two offers on June 30.

As a result, Spirit Airlines made this announcement:

Spirit Airlines, Inc. has announced the signing of a second amendment (the “Amended Agreement”) to its previously announced merger agreement with Frontier Group Holdings, Inc., parent company of Frontier Airlines, Inc., dated February 5, 2022.

Based on the improved terms offered by Frontier, the Spirit Airlines Board of Directors reiterates its unanimous recommendation that Spirit stockholders vote FOR the merger agreement with Frontier. As part of its determination to recommend the Frontier merger agreement, Spirit’s Board of Directors carefully reviewed the terms of JetBlue’s revised proposal received on June 20, 2022 and instructed Spirit’s management and advisers to engage in extensive discussions with JetBlue, including negotiating further the terms of JetBlue’s draft merger agreement and providing extensive additional due diligence to JetBlue and its advisors. After considering this review and discussions, Spirit’s Board of Directors determined JetBlue’s revised offer is not a Superior Proposal.

Under the terms of the Amended Agreement, which has been approved by the Boards of Directors of both companies:

  • Frontier will increase the per-share cash consideration payable to Spirit stockholders to $4.13 in cash, in addition to the per-share stock consideration of 1.9126 shares of Frontier that Frontier previously agreed to pay Spirit stockholders. Frontier has also agreed that $2.22 per share will be prepaid to Spirit stockholders on a record date to be determined as a cash dividend following approval of the transaction by Spirit stockholders and consistent with all applicable laws, including restrictions under the CARES Act. The $2.22 per share dividend will be funded by Frontier.
  • Frontier will increase its reverse termination fee to $350 million to Spirit in the unlikely event the combination is not consummated for antitrust reasons.
  • The number of directors of the combined company to be named by Frontier will increase by one and the number of directors of the combined company to be named by Spirit will decrease by one.

The Board believes a merger with Frontier is the most financially and strategically compelling path forward for Spirit stockholders and has a greater likelihood of closing.

  • With both cash and stock consideration, the Frontier merger offers Spirit stockholders compelling value now, plus the economic upside of continued ownership at a time when the airline industry outlook is only getting brighter.
    • Today, airline sector stock prices are approaching the lows seen during the depths of the pandemic in 2020. Within a year of those lows, Spirit was trading above $39 per share, having more than quadrupled in price.
    • The outlook for the sector is bright, with TSA check-point traveler numbers equaling or exceeding 2019 levels in recent months and with airline unit revenues reaching their highest levels in ten years.
    • The Spirit Board is focused on maximizing value for Spirit stockholders by agreeing to a transaction that provides a combination of near-term cash and exposure to the airline sector recovery.
  • Under the revised terms of the Frontier merger agreement, the pro forma value to Spirit stockholders by 2024 could exceed $50 per share, driven by the equity upside from the realization of synergies, airline sector recovery, and the ongoing growth of both airlines. Based on work done by Spirit advisors, this assumes:
    • Wall Street analyst earnings forecasts for 2024E;
    • Realization of $500 million in annual net operating synergies; and
    • The pro forma company trades at a price-to-earnings multiple of 11x, based on Spirit’s 2017-2019 pre-pandemic average.
  • In addition to the substantial future value creation available, Spirit stockholders will receive the benefit of a near-term cash dividend following approval of the transaction at the Special Meeting on June 30, 2022.

Ted Christie, President and CEO of Spirit, said, “We are thrilled to announce the terms of Spirit’s amended agreement with Frontier, which includes nearly double the per-share cash consideration of our prior agreement with Frontier while still allowing stockholders to benefit from the economic upside of airline industry recovery. As this recovery progresses and demand returns, the price of the combined airline’s stock is expected to exceed the per-share price of JetBlue’s fixed, all-cash offer. We urge stockholders to vote FOR the merger agreement with Frontier on the WHITE proxy card prior to the June 30 Special Meeting.”

Spirit Board Conducts Thorough Process and Determines JetBlue’s Offer is NOT a Superior Proposal

The Spirit Board of Directors conducted a thorough process when considering competing proposals from JetBlue and Frontier. JetBlue and Frontier had access to the same due diligence information, on the same terms. Spirit’s process included extensive discussions with Frontier and JetBlue regarding financial terms, regulatory risks and integration processes. Spirit ultimately received revised proposals from both parties this week. Following the conclusion of this process, the Spirit Board determined that the revised offer Spirit received from JetBlue on June 20, 2022 is not a Superior Proposal and continues to recommend Spirit stockholders adopt the merger agreement with Frontier.

A JetBlue transaction faces significantly greater regulatory impediments than a Frontier transaction.

  • Although Spirit has continued to engage with JetBlue and its advisors regarding regulatory matters and strategy, Spirit does not believe that a JetBlue transaction will overcome regulatory objections.
  • Spirit has long taken the position that excessive consolidation in the airline industry over the last two decades has resulted in the three legacy airlines dominating domestic air travel. Merging Spirit into JetBlue and its Northeast Alliance (“NEA”) with American Airlines will exacerbate regulators’ valid concerns over airline industry concentration. The proposed Spirit/Frontier combination will, by contrast, create a stronger, more relevant, and more effective nationwide ULCC challenger to the dominant carriers.
  • JetBlue has made it clear that it is committed to the NEA, which Spirit believes is an anticompetitive and unlawful de facto merger between American and JetBlue that aligns JetBlue’s interests broadly with a legacy carrier. Spirit believes the existence of the NEA makes it even more unlikely that JetBlue’s acquisition of Spirit will be approved. Indeed, the DOJ has sued to block the NEA between JetBlue and American Airlines on grounds that the NEA is anticompetitive, which further increases the regulatory risk of JetBlue’s offer to acquire Spirit and the likelihood that the DOJ will be able to block a JetBlue/Spirit combination.
  • Although JetBlue’s revised offer purports to provide improved regulatory commitments, JetBlue has insisted on maintaining a significant carve-out allowing JetBlue to refuse to take actions needed to gain regulatory approval if – in JetBlue’s sole and absolute discretion – any such actions would materially and adversely affect JetBlue’s anticipated benefits under its NEA venture with American. This broad carve-out creates an unacceptable risk for Spirit stockholders and only confirms that JetBlue will prioritize the NEA over the completion of a transaction with Spirit.
  • The proposed merger of Spirit and Frontier would create a better and more disruptive nationwide ULCC competitor to the Big Four carriers, further democratizing air travel and bringing more ultra-low fares to more destinations. By contrast, a JetBlue/Spirit combination will result in a higher-cost and higher-fare airline that would eliminate a lower-cost and lower-fare airline and remove about half of the ULCC capacity in the United States, resulting in higher fares for consumers.

“The Spirit Board of Directors conducted a thoughtful and thorough process when considering the competing proposals, and after extensive discussions with Frontier and JetBlue, we firmly believe that a combination with Frontier continues to be in the best interests of the Company and our stockholders, especially given the increased per-share consideration and enhanced reverse termination fee,” said Mac Gardner, Chairman of the Board of Spirit. “A merger with Frontier poses less regulatory risk on Spirit stockholders and increases competition in the industry for the benefit of consumers. The Board is confident a merger with Frontier is the most financially and strategically compelling path forward for Spirit stockholders, with more certainty and the strongest likelihood of closing.”

Video:

Your Vote Is Important

Spirit has scheduled the Special Meeting of Stockholders (the “Special Meeting”) to approve the proposed merger with Frontier for Thursday, June 30, 2022 at 9:00 a.m., Eastern Time. All stockholders of record as of the close of business on May 6, 2022 are entitled to vote at the Special Meeting.

The Spirit Board of Directors strongly recommends you vote FOR the merger agreement on the WHITE proxy card. As a reminder, a vote against Frontier is not a vote for JetBlue, nor will it necessarily lead to a transaction with JetBlue. It is simply a vote against entering into a highly accretive transaction that is less challenging to complete from a regulatory perspective. To ensure your vote is counted, vote on the WHITE proxy card today.

Top Copyright Photo: Spirit Airlines Airbus A320-271N WL N943NK (msn 10563) IAH (Jarrod Wilkening). Image: 957968.

Spirit Airlines aircraft photo gallery:

Spirit Airlines slide show:

Frontier Airlines begins nonstop service from Tampa to San Juan and Montego Bay

Frontier Airlines begins new daily nonstop service this week from Tampa International Airport (TPA) to Luis Muñoz Marín International Airport in San Juan, Puerto Rico (SJU) and twice weekly service to Sangster International Airport in Montego Bay, Jamaica (MBJ).

Frontier is the only airline offering nonstop service from TPA to MBJ.

Service from Tampa International Airport (TPA):

SERVICE TO:

SERVICE START:

SERVICE FREQUENCY:

INTRO FARE:

San Juan, Puerto Rico (SJU)

June 23, 2022

Daily

$99*

Montego Bay, Jamaica (MBJ)

June 24, 2022

2x weekly

$89*

Frequency and times are subject to change.

JetBlue further improves proposal to acquire Spirit

JetBlue Airways has announced that it has submitted a decisively superior proposal to the Board of Directors of Spirit Airlines to acquire all of the outstanding common stock of Spirit.

The further improved proposal, which was submitted at the request of Spirit’s Board and following completion of JetBlue’s diligence review and discussions with Spirit’s management team, is an update to JetBlue’s previous proposals (dated March 29, 2022, April 29, 2022, and June 6, 2022, respectively) and is structured to maximize value and certainty for Spirit and its stockholders, with terms including:

  • Increased price of $33.50 per Spirit share: JetBlue’s proposal continues to offer Spirit stockholders a superior, all-cash premium. The increased price of $33.50 per Spirit share represents an improvement of $2.00per share or 6.3% compared to JetBlue’s June 6 proposal, and a 67.6%1 premium to the implied value of the Frontier transaction as of June 17, 2022.
  • Stronger divestiture commitment: JetBlue’s June 20 proposal includes a significant enhancement to its prior proposals through an obligation to divest assets of JetBlue and Spirit up to a material adverse effect on the combined JetBlue-Spirit, with a limited carve-out to this divestiture obligation for actions that would be reasonably likely to materially and adversely affect the anticipated benefits under JetBlue’s Northeast Alliance. This commitment significantly increases the divestitures JetBlue would be willing to commit to making in order to obtain regulatory approval and meaningfully exceeds the divestiture commitment from Frontier.

In addition to the improved terms, the proposal continues to include commitments from previous proposals that were well received by Spirit stockholders:

  • Reverse break-up fee: JetBlue would continue to offer a reverse break-up fee of $350 million, or $3.20 per Spirit share2, payable to Spirit in the unlikely event the transaction is not consummated for antitrust reasons. This represents an increase of $100 million, or $0.91 per Spirit share, compared to the reverse break-up fee Frontier agreed to on June 2.
  • Accelerated prepayment of $1.50 per share: JetBlue would prepay $1.50 per share in cash to Spirit stockholders promptly following the Spirit stockholder vote approving the combination between Spirit and JetBlue. As a result, Spirit stockholders would receive total aggregate consideration of $33.50 per share in cash, comprised of $32.00 per share in cash at the closing of the transaction and the prepayment of $1.50per share in cash.
  • Divesture commitment in New York and Boston: JetBlue’s proposal continues to include a proactive offer to the U.S. Department of Justice of a remedy package that contemplates the divestiture of all Spirit assets located in New York and Boston so, as a result of the transaction, JetBlue will not increase its presence in the airports covered by the Northeast Alliance, as well as gates and related assets at Fort Lauderdale.

“After discussions with the Spirit team last week and further due diligence review, we are more convinced than ever that a JetBlue-Spirit transaction would create a true national competitor to the Big Four and deliver value to all of our stakeholders,” said Robin Hayes, chief executive officer, JetBlue. “Together, we will deliver lower fares and a better experience to more customers.

“Our previous proposal was met with an extremely positive reaction from Spirit stockholders, and we believe they will be even more pleased with these improved terms, including additional regulatory commitments that reflect our confidence in our ability to obtain antitrust approval and are a direct result of our diligence. We are ready to move quickly to reach a merger agreement, bringing more value to shareholders, more competition to the industry, and more opportunities, including JetBlue’s incredibly strong culture and commitments to our Crewmembers, as we welcome Spirit Team Members into the JetBlue family.”

JetBlue sent a letter to the Board of Directors of Spirit containing its improved proposal.

The full letter follows:

June 20, 2022

Dear Members of the Board:

On behalf of JetBlue Airways Corporation (“JetBlue”), we would like to thank your team for the recent discussions. The dialogue and information provided strengthened our conviction that a combination between JetBlue and Spirit Airlines, Inc. (“Spirit”) would create a true national competitor to the dominant legacy carriers, delivering low fares and a great experience for more customers, more opportunities for Crewmembers and Team Members, and more value for stockholders.

Therefore, we are submitting a further update to our previous proposals (dated March 29, 2022, April 29, 2022, and June 6, 2022, respectively), consistent with your Board’s request and following completion of our due diligence review, to acquire all of the outstanding common stock of Spirit (our “Improved Proposal”). In addition, we included a revised draft of the merger agreement for the transaction reflecting the terms of our Improved Proposal. Our Improved Proposal is structured to maximize value and execution certainty for Spirit and its stockholders and is responsive to the concerns you previously raised. We firmly believe our Improved Proposal constitutes a decisively “Superior Proposal” as defined in the Frontier Agreement3.

Terms of Improved Proposal

Coupled with our June 6 proposal, our Improved Proposal clearly offers Spirit stockholders significantly more than the transaction with Frontier:

  • Increased price of $33.50 per Spirit share of common stock, in cash, which represents:
    • an improvement of $2.00 per share, or 6.3%, compared to our June 6 proposal, and represents 9.2% of Spirit’s unaffected share price4;
    • a 57.4% premium to Spirit’s closing share price of $21.28 on June 17, 2022;
    • a 67.6% premium to the implied value of the Frontier transaction, which was $19.99 as of June 17, 2022; and
    • a total Equity Value for Spirit of $3.7 billion and an Enterprise Value of $7.5 billion5.
  • Stronger regulatory commitment which includes:
    • An express obligation to litigate and to divest assets of JetBlue and Spirit up to a material adverse effect on the combined JetBlue-Spirit, with a limited carve-out to this divestiture obligation for actions that would be reasonably likely to materially and adversely affect the anticipated benefits under JetBlue’s Northeast Alliance. This commitment significantly enhances our prior proposal and meaningfully exceeds the divestiture commitment from Frontier.
    • A proactive offer to the Department of Justice of a remedy package that contemplates the divestiture of all Spirit assets located in New York and Boston so, as a result of the transaction, JetBlue will not increase its presence in the airports covered by our Northeast Alliance, as well as gates and related assets at Fort Lauderdale.
  • A reverse break-up fee of $350 million, or $3.20 per Spirit share6, payable to Spirit in the unlikely event the transaction is not consummated for antitrust reasons, representing:
    • $100 million, or $0.91 per Spirit share, more than the reverse break-up fee Spirit and Frontier agreed to on June 2; and
    • Approximately 15% of Spirit’s unaffected share price7, and approximately 78% of the original premium offered by Frontier8.
  • A prepaymentin the amount of $1.50 per share in cash, payable to Spirit stockholders promptly following the Spirit stockholder vote approving the combination between Spirit and JetBlue; in the unlikely event the reverse break-up fee is payable, this upfront payment would reduce the payment to Spirit at the time of the termination of the merger agreement to approximately $186 million ($1.70 per share9).
  • As a result, Spirit stockholders would receive total aggregate consideration of $33.50 per share in cash, comprised of $32.00 per share in cash at the closing of the transaction and the prepayment of $1.50per share in cash.

As has been the case since our initial proposal on March 29, when compared to the inferior Frontier transaction, our Improved Proposal offers Spirit stockholders the compelling opportunity to receive a significant premium in cash in a transaction with more value and more certainty and stronger regulatory commitments, and, with the prepayment of a portion of the aggregate merger consideration as we have proposed, more value upfront. It is unambiguously a Superior Proposal. We are confident your stockholders will embrace our Improved Proposal, as they have done with our previous ones.

We are also confident our proposal is better for customers, delivering more of our unique combination of low fares and great service to customers nationwide, and better for Spirit Team Members, with higher pay and better benefits than either Spirit or Frontier, exciting career development opportunities, and JetBlue’s incredibly strong culture and set of values, which include never having furloughed any Crewmembers in our 22-year history, as well as industry-leading sustainability commitments.

As you know, we have dedicated a full team, significant management time, and advisor resources to the evaluation of Spirit and have finally been given the opportunity to conduct a review of Spirit’s business and operations. We have completed our due diligence and our Improved Proposal is a direct result of that process. We are now prepared to move expeditiously to execute definitive documentation.

While our strong preference is to reach a friendly, negotiated agreement with you, should the Spirit Board fail to declare our Improved Proposal a Superior Proposal, we fully intend to continue our “vote no” campaign against the Frontier transaction at your special meeting on June 30 as well as our tender offer.

We look forward to hearing from you soon and hope to finally move towards signing of definitive documentation for our superior transaction, clearly the optimal outcome for Spirit stockholders.

Sincerely,

/s/ Robin Hayes
Chief Executive Officer

JetBlue aircraft photo gallery:

Spirit is talking to both Frontier and JetBlue on their merger proposals

Spirit Airlines appears to be softening a bit with JetBlue with this announcement:

Spirit Airlines, Inc. today issued the following update regarding its ongoing discussions with Frontier Group Holdings, Inc., parent company of Frontier Airlines, Inc., and JetBlue Airways Corporation:

Ted Christie, President and CEO of Spirit, said, “Consistent with its fiduciary duties, Spirit’s Board of Directors is engaging in discussions with JetBlue with respect to the proposal received on June 6, 2022 and is also continuing to work with Frontier under the terms of the existing merger agreement between Spirit and Frontier. As part of this process, Frontier and JetBlue are being given access to the same due diligence information, on the same terms.

The Board expects to bring the process to a conclusion and provide an update to stockholders ahead of the Special Meeting of Spirit Stockholders scheduled for Thursday, June 30, 2022.”

Spirit continues to be bound by the terms of its merger agreement with Frontier, under which a “Superior Proposal” is defined as being both reasonably capable of being consummated and more favorable to Spirit’s stockholders from a financial point of view. Also, Spirit is providing information requested by the US Department of Justice and Federal Trade Commission for both proposed transactions as part of the ongoing regulatory review process.

Barclays and Morgan Stanley & Co. LLC are serving as financial advisors to Spirit, and Debevoise & Plimpton LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal advisors.

Spirit Airlines aircraft photo gallery:

New Frontier Airlines plane tail will feature the Costa Rican Two-Toed Sloth in honor of destination partner Costa Rica

Frontier Airlines today unveiled details of a special new aircraft that will join the fleet next year featuring the Costa Rican two-toed sloth on its tail.

All Frontier plane tails feature a unique animal with a special name and back story. The Hoffmann’s two-toed sloth was chosen to honor Frontier destination partner Costa Rica and highlight this unique species, which is native to Costa Rica. Frontier Airlines serves both San Jose and Liberia, Costa Rica via nonstop service from Orlando.

The sloth needs a name and Frontier, in partnership with Visit Costa Rica, is inviting consumers to vote by going to Frontier’s social media channels on Facebook, Instagram, LinkedIn and Twitter between now and 12 midnight on June 11 to vote using the hashtag #NameTheSloth. The three name choices are Manny, Tony and Tico. Manny and Tony are a nod to Costa Rica’s Manuel Antonio National Park, where sloths can be observed in the wild. Tico is a name used to refer to natives of Costa Rica.

Sloths are considered a national symbol of Costa Rica and the two-toed sloth is the larger of two sloth species found in the country. They are mostly nocturnal and can be distinguished by their white-ringed faces, brown snouts and shaggy coats. Sloths are mammals that spend around 90 percent of their lives upside down in the trees within rainforests and can live up to 30 years. Costa Rica is taking measures to ensure these unique creatures continue to thrive in their natural habitat.

Frontier aircraft photo gallery:

Frontier announces 4 new routes from Las Vegas, now 57

Frontier Airlines will launch new daily nonstop service from Harry Reid International Airport (LAS) to Baltimore/Washington (BWI), Buffalo (BUF), Hartford/Springfield (BDL) and Kansas City (MCI) in August 2022.

Frontier continues to be Las Vegas’ fastest growing airline and now serves 57 destinations from LAS. To celebrate, America’s Greenest Airline is offering fares as low as $89.*

Service from Harry Reid International Airport (LAS):

SERVICE TO:

SERVICE START:

SERVICE FREQUENCY:

INTRO FARE:

Baltimore (BWI)

Aug. 9, 2022

Daily

$99*

Buffalo (BUF)

Aug. 9, 2022

Daily

$99*

Hartford (BDL)

Aug. 9, 2022

Daily

$99*

Kansas City (MCI)

Aug. 9, 2022

Daily

$89*

Frequency and times are subject to change.

Frontier Airlines aircraft photo gallery:

Frontier Airlines and Spirit Airlines announce an amended merger agreement

Spirit Airlines, Inc. and Frontier Group Holdings, Inc., parent company of Frontier Airlines, Inc., have announced an amendment to their previously announced merger agreement dated February 5, 2022.

Under the terms of the amended merger agreement, which has been unanimously approved by the boards of directors of both companies, Frontier would pay a reverse termination fee of $250 million, or $2.23 per share, to Spirit in the unlikely event the combination is not consummated for antitrust reasons.

William A. Franke, the Chair of Frontier’s Board of Directors and the managing partner of Indigo Partners, Frontier’s majority shareholder, said, “We continue to believe in the strategic rationale of a combined Spirit and Frontier, which brings together two complementary businesses to create America’s most competitive ultra-low fare airline. Given our conviction that regulators will find this combination to be pro-competitive, we have agreed to institute a reverse termination fee. We look forward to bringing these two companies together and delivering on the benefits for all stakeholders.”

Ted Christie, President and CEO of Spirit, said, “Since announcing our transaction with Frontier, we have had extensive constructive conversations with our stockholders, who have expressed support for the strategic rationale of our combination but a desire for additional stockholder protections. After discussing this feedback with the Frontier Board and management team, we have agreed to amend the merger agreement. We look forward to closing the transaction and bringing more ultra-low fares to more people in more places.”

“We continue to be excited about the combination with Spirit, which will create a true nationwide ultra-low fare airline to compete against the dominant ‘Big Four’ carriers and other high-cost airlines,” said Barry Biffle, President and CEO of Frontier. “We will continue to work closely with the Spirit team to successfully complete the transaction and deliver enhanced value to all of our stakeholders.”

“The combination of a higher reverse termination fee and a much greater likelihood to close in a Frontier merger provides substantially more regulatory protection for Spirit stockholders than the transaction proposed by JetBlue,” said Mac Gardner, Chairman of the Board of Spirit. “We look forward to closing the transaction with Frontier and giving Spirit stockholders the opportunity to benefit from pandemic recovery and share in approximately $500 million in annual net synergies.”

Spirit Airlines aircraft photo gallery:

Frontier Airlines begins service to 5 additional destinations from Raleigh-Durham

Frontier Airlines is launching nonstop service this week from Raleigh-Durham International Airport to five additional destinations, including Cincinnati, Indianapolis, New Orleans, Detroit and Newburgh/Stewart, NY.

New Routes from Raleigh-Durham International Airport (RDU):

SERVICE TO:

SERVICE START:

SERVICE FREQUENCY:

INTRO FARE:

Cincinnati

May 26, 2022

3X weekly

$69*

Indianapolis

May 26, 2022

2X weekly

$89*

Newburgh, NY

May 26, 2022

2X weekly

$69*

Detroit

May 27, 2022

3X weekly

$69*

New Orleans

May 27, 2022

3X weekly

$69*

Frequency and times are subject to change.

In other news, the airline on May 27 started Tampa – Cancun service.

Frontier Airlines aircraft photo gallery:

Frontier Airlines begins service from both Houston Hobby and Intercontinental Airports to Cancun, Mexico

Frontier Airlines today launches nonstop service from both William P. Hobby and George Bush Intercontinental Airport to Cancun, Mexico this week.

New Route from William P. Hobby International Airport (HOU)

SERVICE TO:

SERVICE START:

SERVICE FREQUENCY:

INTRO FARE:

Cancun

May 26, 2022

3X weekly

$99*

New Route from George Bush Intercontinental Airport (IAH):

SERVICE TO:

SERVICE START:

SERVICE FREQUENCY:

INTRO FARE:

Cancun

May 27, 2022

4X weekly

$99*

In other news, the airline today is also launching nonstop service from New York Stewart International Airport to Atlanta and Raleigh-Durham.

New Routes from New York Stewart International Airport (SWF):

SERVICE TO:

SERVICE START:

SERVICE FREQUENCY:

INTRO FARE:

Atlanta

May 26, 2022

3X weekly

$79*

Raleigh-Durham

May 26, 2022

2X weekly

$69*

Finally, Frontier Airlines is restarting nonstop service from Cincinnati/Northern Kentucky International Airport to Raleigh-Durham and Philadelphia this week.

New Routes from CVG:

SERVICE TO:

SERVICE START:

SERVICE FREQUENCY:

INTRO FARE:

Raleigh-Durham

May 26, 2022

3X weekly

$69*

Philadelphia

May 27, 2022

4X weekly

$99*

Frequency and times are subject to change.

Frontier Airlines aircraft photo gallery: