Frontier Group Holdings, Inc. Stock Price, News & Analysis

Frontier Group Holdings, Inc., the parent company of Frontier Airlines (NASDAQ: ULCC), has rescheduled its second quarter 2022 financial results release to July 27, 2022, after market close, instead of the previously planned July 28, 2022. A live webcast discussing the results will take place on the same day at 4:30 PM ET. The webcast will be open to the public, and a 30-day archive will be available on the company’s website. Frontier Airlines operates a significant fleet and is noted for being the most fuel-efficient among major U.S. carriers.

Spirit Airlines (NYSE: SAVE) has announced the reopening and adjournment of its Special Meeting of Stockholders regarding the merger with Frontier Group Holdings (NASDAQ: ULCC) until July 27, 2022. The Board of Directors recommends that stockholders vote FOR the merger using the WHITE proxy card. The company urges stockholders who have not yet voted or wish to change their vote to submit their proxies promptly. Discussions with Frontier and JetBlue (NASDAQ: JBLU) continue as the companies work towards finalizing the merger.

Frontier Group Holdings, Inc., parent company of Frontier Airlines (NASDAQ: ULCC), will release its second quarter 2022 financial results after market close on July 28, 2022. A live webcast for analysts will occur the same day at 4:30 PM ET, accessible publicly for listening. Interested parties can register for the webcast on the company's investor relations website. Frontier Airlines, headquartered in Denver, operates over 110 A320 family aircraft and is recognized for its fuel efficiency among major U.S. carriers.

Discovery Capital Management has urged Spirit Airlines' Board to change the record date for voting on the proposed merger with Frontier Airlines, set for July 15, 2022. Currently, over 55% of Spirit's outstanding shares are unable to vote due to a record date of May 6, 2022. They argue this disenfranchises current shareholders, particularly as JetBlue has continued to enhance its competing bid. Discovery emphasizes that JetBlue's offer is superior and encourages Spirit to abandon the Frontier merger in favor of JetBlue, highlighting potential economic rights loss for shareholders.

Spirit Airlines (NYSE:SAVE) has announced a decision to reopen and immediately adjourn its Special Meeting of Stockholders regarding the proposed merger with Frontier Group Holdings (NASDAQ:ULCC). The meeting, originally scheduled for July 8, 2022, will be reconvened on July 15, 2022, at 11:00 am ET. This adjournment allows the Spirit Board to continue discussions with both Frontier and JetBlue (NASDAQ:JBLU) while soliciting proxies from stockholders. Stockholders of record as of May 6, 2022, are entitled to vote and should submit proxies promptly.

Spirit Airlines plans to adjourn its Special Meeting of Stockholders originally scheduled for June 30, 2022, to allow further discussions with Frontier and JetBlue regarding a proposed merger. The meeting will reconvene on July 8, 2022, at 11:00 AM ET. Stockholders recorded as of May 6, 2022, are eligible to vote, and those who wish to change their votes are encouraged to submit proxies promptly. Spirit invites stakeholders to follow updates through the SEC filings related to the tender offer.

JetBlue (NASDAQ: JBLU) asserts that its acquisition proposal for Spirit (NYSE: SAVE) is vastly superior to Frontier's (NASDAQ: ULCC) offer, emphasizing all-cash benefits, higher upfront value, and a commitment to customer competition against major airlines. JetBlue's strategy promotes lower fares and enhanced experiences for travelers, alongside greater job opportunities for employees. Analysts support JetBlue's bid while expressing skepticism about Spirit's financial projections under Frontier. JetBlue calls for Spirit shareholders to reject the Frontier deal and back its proposal.

On June 28, Spirit Airlines President and CEO Ted Christie discussed the merger agreement with Frontier Airlines on CNBC's Mad Money. Christie highlighted that this merger could deliver over $50 per share in value for Spirit's shareholders, significantly exceeding the valuation proposed by JetBlue. Leading independent proxy advisory firms recommend stockholders vote in favor of the Frontier merger, which is perceived as more advantageous and less challenging from a regulatory perspective. The Special Meeting for stockholders to vote on the merger is scheduled for June 30, 2022.