Frontier offers $3B for Spirit low-cost airline tie-up

FRONTIER AIRLINES' parent company is buying Spirit Airlines in a $2.9 billion cash-and-stock deal that will allow the combined airline to be more competitive against its larger rivals. / ASSOCIATED PRESS FILE PHOTO
PROVIDENCE (AP) — Frontier is offering to buy Spirit Airlines in a $2.9 billion cash-and-stock deal that will create the nation's fifth largest carrier. The tie-up is valued at $6.6 billion when accounting for the assumption of debt and other liabilities. The companies said Monday that the transaction will provide more low-cost fares for more…

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