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Spirit Airlines says shareholders unlikely to vote against Frontier deal

05/23/2022 | 05:43pm EDT
FILE PHOTO: A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse

CHICAGO (Reuters) -Spirit Airlines Chief Executive Ted Christie said on Monday it is unlikely shareholders would vote against its proposed merger with Frontier Group Holdings Inc.

The Florida-based ultra-low-cost carrier is facing a hostile takeover bid by JetBlue Airlines. The company has urged its shareholders to reject JetBlue's offer and back its deal with Frontier.

Spirit will hold a shareholder meeting on June 10 to vote on the transaction with Frontier.

"The vote that we will be soliciting from our shareholders on the 10th is a vote for the Frontier merger," Christie said on an analyst call.

He, however, said Spirit intended to remain a stand-alone entity if shareholders rejected the deal.

(Reporting by Rajesh Kumar Singh; Editing by Leslie Adler and Stephen Coates)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FRONTIER GROUP HOLDINGS, INC. 0.96% 9.51 Delayed Quote.-29.92%
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