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Financial News: Frontier and Spirit Airlines merging

Financial News:

Frontier and Spirit Airlines merging

Spirit Airlines

Frontier and Spirit Airlines announced plans to merge today. Spirit is up and Frontier down in premarket.

The budget carriers said they would save $1 billion a year while adding jobs.

The airlines, which together offer 1,000 daily flights serving destinations in the United States, the Caribbean and Latin America, said in a statement they would achieve $1 billion in annual savings from combining, without layoffs. They also said they expected to add 10,000 direct jobs by 2026 and create thousands more through their business partners.

Photo: Spirit Airlines, Inc., is an American ultra-low-cost carrier headquartered in Miramar, Florida, in the Miami metropolitan area. Spirit operates scheduled flights throughout the United States and in the Caribbean and Latin America.

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    Content ID: 1644239068 Created Monday, February 07, 2022 1:04 PM UTC by Aaron Stipkovich, Updated Monday, February 07, 2022 2:43 PM UTC by Aaron Stipkovich.