Spirit Airlines, the low-cost carrier that flies out of Arnold Palmer Regional airport and other locations across the United States, has been purchased by Frontier Airlines.
The parent company of Frontier, another low-budget airline, is buying the Miramar, Florida-based airliner in a stock and cash deal worth $2.9 billion. The combined airlines would create the nation’s fifth largest airline carrier. The deal is worth a total of $6.6 billion when accounting for debt assumption and other liabilities. The companies issued a joint statement saying that the transaction will provide travelers with more low-cost fares for destinations in the U.S., Latin America and the Caribbean. According to a joint news release, the combined financial profile will also empower the combined company to accelerate investment in innovation and growth to compete against the top airlines in the United States.
Spirit, like many airlines, were hit hard by Covid-19 with a drop in travel due to pandemic restrictions. There’s no word yet on how this will affect service at Arnold Palmer Regional Airport.
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