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Spirit Airlines again postpones vote on Frontier merger

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Posted at 11:20 PM, Jul 07, 2022
and last updated 2022-07-08 01:20:54-04

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.