Frontier Group (ULCC.US) will abandon the acquisition of spirit airlines (SAVE.US) or go bankrupt "in a few weeks."
According to reports, Frontier Group (ULCC.US) has abandoned the acquisition of its low-cost competitor, and spirit airlines (SAVE.US) is close to bankruptcy.
Barclays Maintains Spirit Airlines(SAVE.US) With Sell Rating, Cuts Target Price to $0.5
Express News | Spirit Airlines : Barclays Cuts Target Price to $0.5 From $3
Update: Spirit Airlines Reportedly Considering Bankruptcy Protection After Frontier Deal Fails
Sudden Hit | Nearly 60% plunge yesterday! Spirit Aviation dropped over 5% pre-market, rumored Frontier Group abandoning its acquisition.
Spirit airlines shares fell before the market opened, as it was reported that Frontier Group gave up its bid for acquisition and may file for bankruptcy within a few weeks.
KBRA Comments on Aviation ABS Exposure to Spirit Airlines