7/13/2022, 3:24 PM (Source: TeleTrader)
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Spirit Airlines postpones Frontier merger vote to July 27

The shareholders of American low-cost carrier Spirit Airlines Inc. decided on Wednesday to postpone the voting on the merger agreement with Frontier Airlines Holdings, Inc. to July 27.

"We still remain very far from obtaining approval from Spirit stockholders based on the proxy data we received as of July 8," Frontier Chief Executive Barry Biffle told the airline in a letter commenting on the cash-and-stock offer set at $25.39 per share.

The voting on the merger has already been delayed multiple times. If the deal is eventually realized, Spirit and Frontier will form a new airline that would be able to compete with big carriers in the United States.

Baha Breaking News (BBN) / ND