The two largest discount airlines in the U.S. are merging, as Frontier and Spirit Airlines have agreed to a deal valued at $6.6 billion.
Becoming what CNBC is calling the fifth-largest airline in the U.S., both airline boards approved the deal over the weekend. Frontier Airlines has a 51.5 percent controlling stake, while Spirit will control the remaining 48.5 percent. This marks the first U.S. airline merger since Alaska Airlines and Virgin America joined forces in 2016.
“This transaction is centered around creating an aggressive ultra-low fare competitor to serve our guests even better, expand career opportunities for our team members and increase competitive pressure, resulting in more consumer-friendly fares for the flying public,” Spirit President and CEO Ted Christie said in a statement.
Frontier Chairman Bill Franke will be the chair of the combined company, sharing that it “will create America’s most competitive ultra-low fare airline for the benefit of consumers.”
Frontier is based out of Denver, while Spirit is based out of Florida, but the carrier’s new name, location, and CEO have yet to be announced. The combined airline will be responsible for 1,000 daily flights, with 350 planes touching down in 19 different countries.
Still, even with its new place as the fifth-biggest airline in the U.S., flyers on Twitter aren’t too enthusiastic about the news, and are using the opportunity to poke some fun at the low-fare travel options. Check out some of the more interesting reactions to the news below.
