Spirit Airlines Inc shareholder Discovery Capital Management LLC on Tuesday urged the low-cost carrier to abandon its merger with Frontier Group Holdings Inc in favor of a bid from JetBlue Airways Corp .
Discovery became the second major Spirit shareholder to publicly back a merger with JetBlue, which is vying with Frontier to expand in the United States and create the country's fifth-largest airline. Discovery owns 1.4% of Spirit.
Last month, Spirit shareholder TIG Advisors LLC also informed the carrier's board of directors that it intends to vote against Frontier's bid with the low-cost carrier.The Spirit shareholder vote, which has been delayed twice before, was pushed back for a third time to enable the airline to have more conversations with JetBlue and Frontier to finalize a deal.
However, Frontier on Monday declined to further raise its bid for Spirit, potentially drawing the curtains on its months-long bidding war with JetBlue.
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