Frontier Airlines, dealingwith mostlikely defeat in its quote to combine with Spirit Airlines, states it is done with a bidding war and is asking for another hold-up in a investor vote on the offer.
Frontier CEO Barry Biffle stated in a letter made public Monday that his airlinecompany is “very far” from winning approval by Spirit investors, who are weighing a higher-priced buyout deal from JetBlue Airways.
A investor vote at Spirit, currently delayed 3 times, is setup for Friday.
Spirit’s board has stood behind a February offer it struck with Frontier to signupwith the 2 discountrate airlines.
“However, we still stay extremely far from acquiring approval from Spirit investors based on the proxy information we got as of July 8,” Biffle stated to Spirit CEO Ted Christie and General Counsel Thomas Canfield.
The vote arranged for July 8, last Friday, was delayed the eve