Frontier and Spirit create the fifth largest airline in the United States

Frontier and Spirit they join together creating the fifth airínea más big and the ultra low cost más important of those of USA.

Together, Frontier and Spirit Airlines hope to change the industry for the benefit of consumers, providing más tarifas ultrabajas a más travelers in más destinations in USA, Américh latina and the Caribe, including major cities and underserved communities. The financial profile más strong of the companyñíthe combination allowsá accelerate investmentón in innovationón and growth and competeún más aggressively, especially against aerosolsídominant neas «Big Four».

William A. Franke, Chairman of the Board of Frontier and Managing Partner of Indigo Partners, the majority shareholder of Frontier, I knowñaló that Indigo has a long history with Spirit and Frontier, and is proud to partner with them to create an aerolídisruptive line.

“We work together with the Board of Directors and the senior management team of both airlines.ídirections to reach a combinationón of two complementary businesses that together createán the aerolíultra-low fare line más competitive United States for the benefit of consumers”.

Mac Gardner, president of the board of directors of Spirit commentó:

“This combinationóIt has nothing to do with growth, opportunities and creationóNo value for everyone, from our guests to our team members and the púwar in general”. “We fit perfectly: our companies share similar values, including our long-standing commitment to affordable travel. At the same time, we have complementary footprints and fleets, including one of the fleets más jócome and ecoólogics of the world. Together, we will beún más competitive».

The benefits of unión of Frontier and Spirit Airlines

The aerosol is expectedínea combined:

• Deliver $1 billion in annual savings for consumers.
• Offer más de 1000 daily flights to más de 145 destinations in 19 países and with 650 direct flights.
• Ampliar a más de 350 planes to offer más ultra-low rates.
• Increase access to ultra-low fares by adding new routes to underserved communities in the United States, Américh Latin and Caribbean.
• Provide a service toún más confiable a través of a variety of operational efficiencies.
• Expand frequent flyer and membership offersía.

Más employment

• For 2026, Spirit and Frontier hope to add 10,000 direct jobs and thousands of additional jobs in the companies' commercial partners.
• Given the growth, All current team members are expected to have the opportunity to be part of the aerolínea combined.
• Aerol team membersícombined line will haveán better career opportunities and más stability as part of the aerolínew ultra low tariff más competitive United States.

the airínea más ecológic of the United States

Frontier and Spirit serán the aerolínea más ecolólogic of the United States and provideán national access to travel toésustainable and affordable inmates. the airícombined line will haveá to the fleet más young, modern and fuel-efficient, with the fleet más largest aircraft of the A320neo family of all aerolípa linesís.

Frontier and Spirit shareholders tooén win

• On a combined basis, the compañía tendríto annual income of approximately $5.3 billion based on the results of 2021.
• Once combined, Frontier and Spirit expect to generate annual run rate operating synergiesón of $500 million once the integration is completeón total, what to beá driven primarily by scale efficiencies and procurement savings across the company with approx. $400 millions in costs únicos.
• The aerosol is expectedícombined company has a strengthened financial profile, with a cash balance of approximately $2400 million at the end of 2021 in combined form.

Sayún the tséterms of the merger agreementón, which has been unanimously approved by the boards of directors of both companies, Spirit shareholders receiveán 1,9126 Frontier m stockás $2,13 en effective for each acción of existing Spirit they possess. This implies a value of $25,83 by acción of Spirit to the closing price of Frontier shares of $12,39 the 4 February 2022. Volume-weighted average prices -día of Frontier and Spirit. You transact itón values ​​Spirit at a fully diluted equity value of $2,900 million and a transaction valueón of $6,600 million when accounting for the assumptionón net debt and operating lease liabilities.

At the closing of the transactionón, Frontier's existing shareholders ownán approximately 51,5 % and existing Spirit shareholders ownán approximately 48,5 % from the airínea combined, on a fully diluted basis, what to offerá Frontier and Spirit shareholders substantial growth potential.