Jan 29 (Reuters) - Spirit Airlines SAVEQ.PK on Wednesday said it expects to exit bankruptcy in the first quarter and rejected a merger with rival Frontier Group ULCC.O, saying it was not favorable for the low-cost carrier.
It received a proposal from Frontier earlier this month, where in its shareholders would $400 million in debt and a 19% share in Frontier, the company said in a regulatory filing.
Spirit rejected the proposal as it would not provide the anticipated shareholder value and raised concerns over the timing and successful completion of the deal.
The Florida-based airline declared bankruptcy in November after grappling with prolonged periods of financial losses, unsuccessful merger efforts and a substantial levels of debt.
The airline said it expects to complete its restructuring process in the first quarter.
(Reporting by Shivansh Tiwary in Bengaluru; Editing by Arun Koyyur)
((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192; X: @Shivansh_19_;))
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。