Vote on Spirit, Frontier merger is postponed, again

By MICHELLE CHAPMAN
AP Business Writer

Days ahead of a shareholder vote at Spirit Airlines over a proposed buyout by rival budget carrier Frontier, the vote is being cancelled for a fourth time due to a lack of support from investors. Frontier Airlines’ CEO wrote a letter that his airline is “very far” from winning Spirit shareholder approval for the deal. At issue is competing bid for Spirit from another budget airline, JetBlue, which is offering about $1 billion more for Spirit. Spirit has said regulators are more likely to block that deal and is advising its shareholders to stick with Colorado’s Frontier.