Spirit Airlines has rejected Frontier Group’s latest merger offer, stating that it is less beneficial to shareholders compared to the airline’s current restructuring plan.  

On February 11, 2025, Spirit Airlines issued a statement providing an update on its restructuring process regarding a new proposal from Frontier Group, the parent company of Frontier Airlines. 

Frontier’s latest offer repeated its proposal from February 4, 2025, which included $400 million principal amount of second-lien debt for Spirit’s stakeholders and 19% of Frontier’s common equity. The proposal would eliminate the need for Spirit to complete its previously announced $350 million equity rights offer and required a waiver of the Bankruptcy Court-approved $35 million termination fee. 

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