Credit: Tom Sofield/LevittownNow.com
A budget airline that serves Bucks County in Philadelphia and at nearby Trenton-Mercer Airport is merging with a competitor.
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The Associated Press reported Monday morning that Colorado-based Frontier Airlines will buy Florida-headquartered Spirit Airlines as part of a $2.9 billion cash-and-stock deal. With debt and other liabilities factored it, the merger is valued at $6.6 billion.
The budget airlines’ merger will create the fifth largest airline in America.
The deal still needs to be approved by regulators.
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Frontier Airlines officials said the tie-up will “create America’s most competitive ultra-low fare airline for the benefit of consumers.”
“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,” said Spirit Airlines President and CEO Ted Christie.
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Frontier Airlines flies to many popular destinations out of Trenton-Mercer Airport. Its planes are often seen on descending and ascent flying over the Levittown area.
Trenton-Mercer Airport is a key focus city for Frontier Airlines. Spirit Airlines does not currently fly out of the nearby New Jersey airport.
Frontier Airlines use of Trenton-Mercer Airport is key to a proposed expansion of the facility.
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The combined airlines plan to add 10,000 jobs by 2026 and expand their fleet of aircraft.
Spirit Airlines traces its roots back to a trucking company in 1964 and expanded to air travel in 1983.
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Frontier Airlines was started in the 1990s and shares the name of a previous airline that closed in the mid-1980s. The airline has expanded over the years and is popular for putting images of animals on the tails of their planes.
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