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Frontier Airlines makes second merger attempt with bankrupt Spirit Airlines

Frontier Airlines makes second merger attempt with bankrupt Spirit Airlines
THAT맥스카지노S HAPPENING ON TWO LOW COST AIR CARRIERS. ISABEL. DEMOCRATS AND REPUBLICAN SENATORS ARE WORRIED THAT TWO AIRLINES, SPIRIT AND FRONTIER, MAY BE USING CUSTOMER DATA TO CHARGE SOME PEOPLE MORE FOR THE SAME SEATS ON THE SAME FLIGHTS. THE BIPARTISAN GROUP INCLUDES SENATOR MAGGIE HASSAN, WHO SAYS SHE HAS HEARD FROM PEOPLE WHO PAID MORE OR LESS, DEPENDING ON THE PERSONAL INFORMATION THEY ENTER IN THE BOOKING PROCESS. SENATOR HASSAN SAYS THE EXECUTIVES FOR SPIRIT AND FRONTIER REFUSED TO ANSWER QUESTIONS ABOUT THEIR USE OF CUSTOMER DATA. AT A HEARING. THE BOOKING SITES COLLECT INFORMATION LIKE ZIP CODES, AGES, GENDERS BEFORE THEY SHOW HOW MUCH A SEAT COSTS. SENATOR HASSAN SAYS SHE, ALONG WITH SENATORS JOSH HAWLEY AND RICHARD BLUMENTHAL, SENT A LETTER TO THE COMPANIES URGING THEM TO BE TRANSPARENT IN THEIR FEES UP FRONT. I THINK IT맥스카지노S APPROPRIATE FOR CONGRESS TO SAY THAT AIRLINES ARE CORPORATIONS HAVE TO BE TRANSPARENT IN THEIR PRICING. THIS IS WHAT ALLOWS CONSUMERS TO REALLY HAVE ANY KIND OF POWER IN THE MARKETPLACE, AND IT맥스카지노S WHAT CREATES BETTER COMPETITION, WHICH LOWERS PRICES. SENATOR HASSAN SAYS THE HOPE IS THAT THE COMPANIES WILL CHANGE FEE STRUCTURES AND INCREASE TRANSPARENCY. BASED ON THIS LETTER, IF NOT, CONGRESS COULD TAKE FURTHER ACTION TO MAKE SURE THE AIRLINES ARE H
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Frontier Airlines makes second merger attempt with bankrupt Spirit Airlines
Frontier Airlines is attempting for a second time to merge with the now bankrupt Spirit Airlines, which declared bankruptcy late last year as budget airlines struggle.Frontier Group Holdings Inc., the parent company of Frontier Airlines, said Wednesday that the proposed deal would include newly issued Frontier debt and common stock.Frontier tried to merge with Spirit in 2022 but was outbid by JetBlue. However, the Justice Department sued to block the $3.8 billion JetBlue deal, saying it would drive up prices for Spirit customers who depend on low fares, and a federal judge agreed in January. JetBlue and Spirit dropped their merger bid two months later.Spirit filed for bankruptcy protection in November. The biggest U.S. budget airline, Spirit filed a Chapter 11 bankruptcy petition after working out terms with bondholders. The airline has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion in 2025 and 2026.Shares of Frontier Group rose slightly before the opening bell Tuesday.

Frontier Airlines is attempting for a second time to merge with the now bankrupt Spirit Airlines, which declared bankruptcy late last year as budget airlines struggle.

Frontier Group Holdings Inc., the parent company of Frontier Airlines, said Wednesday that the proposed deal would include newly issued Frontier debt and common stock.

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Frontier tried to merge with Spirit in 2022 but was outbid by JetBlue. However, the Justice Department sued to block the $3.8 billion JetBlue deal, saying it would drive up prices for Spirit customers who depend on low fares, and a federal judge agreed in January. JetBlue and Spirit dropped their merger bid two months later.

Spirit filed for bankruptcy protection in November. The biggest U.S. budget airline, Spirit filed a Chapter 11 bankruptcy petition after working out terms with bondholders. The airline has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion in 2025 and 2026.

Shares of Frontier Group rose slightly before the opening bell Tuesday.