Frontier CEO Barry Biffle said in a letter made public Monday that his airline is “very far” from winning approval by Spirit shareholders, who are weighing a higher-priced buyout offer from JetBlue Airways.
FLE - A line of Spirit Airlines jets sit on the tarmac at the Orlando International Airport on May 20, 2020, in Orlando, Fla. Spirit announced on Thursday, July 7, 2022, that it would again postpone a vote on the proposed merger with Frontier, 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.
“However, we still remain very far from obtaining approval from Spirit stockholders based on the proxy data we received as of July 8,” Biffle said to Spirit CEO Ted Christie and General Counsel Thomas Canfield., but Frontier and Spirit knew from proxy data how investors were voting. Spirit's largest shareholders have declined to comment.
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