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POTENTIAL DEAL DETAILS
| Stock | Spirit Airlines, Inc. | Symbol | SAVE |
| Date Announced | 10/22/2024 | Source | WSJ |
| Type | News Report |
The Wall Street Journal reported that Frontier Airlines (ULCC) is exploring a renewed bid for Spirit Airlines (SAVE), as Spirit continues discussions with bondholders over the terms of a potential bankruptcy filing.
The two budget airlines have had recent discussions about a possible merger. If a deal between the two carriers is reached, it would likely happen as part of Spirit restructuring its debt and other liabilities in bankruptcy.
Frontier came close to buying Spirit in 2022 but was later bought by JetBlue (JBLU) in a bidding war. The Jetblue deal was terminated in March 2024 due to regulatory issues.
Spirit Airlines, Inc. Investor Relations
Frontier Group Holdings, Inc. Investor Relations
Update(s):
October 29, 2024: Jetblue (JBLU) CEO said that the airline is not interested in revisiting the Spirit Airlines (SAVE) acquisition. Jetblue added that they would consider Spirit assets that may be sold.
November 12, 2024: WSJ reported that Spirit Airlines (SAVE) is preparing to file for bankruptcy protection after merger talks with Frontier Airlines (ULCC) broke down. The Florida-based budget airline is in advanced discussions with bondholders to hammer out a bankruptcy plan that would have support from a majority of creditors, as it struggles with mounting losses and looming debt maturities. A bankruptcy filing is expected to happen within weeks. Spirit had also been in discussions with rival Frontier in hopes that the two carriers could revive earlier plans to join forces, likely as part of a broader restructuring in bankruptcy. Frontier decided not to move forward with such a merger at this time.
November 18, 2024: Spirit Airlines (SAVE) announced that it has filed for bankruptcy protection.
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.