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Spirit Airlines again postpones vote on Frontier merger


By The Associated Press

The proposed merger between Spirit Airlines and Frontier just can’t get off the runway. Spirit announced late Thursday it would again postpone a vote on the deal, a sign that it lacks shareholder support for the merger in the face of a rival bid by JetBlue Airways. Spirit delayed the vote by a week, until July 15. That’s the third time Spirit has put off a vote on the Frontier deal. JetBlue’s offer is worth more in current value, about $3.6 billion in cash. But Frontier’s cash-and-stock bid would let Spirit shareholders keep 48.5% of the combined airline.

Article Topic Follows: AP National Business

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