Frontier Airlines Offers to Buy Spirit Airlines, Again

Frontier Airlines on Wednesday said that it offered to buy Spirit Airlines three years after the failure of a previous proposed deal. Frontier valued its stock and cash offer at more than $2.1 billion, far less than the $2.9 billion deal that the airlines had announced in early 2022.

Spirit abandoned the earlier agreement in favor of a counteroffer from JetBlue Airways, which was eventually blocked in court by the Justice Department last year. After a string of setbacks, including a failure to renegotiate its debt, Spirit filed for bankruptcy in November.

This is a developing story. Check back for updates.