Hints and tips:
...Budget carriers Spirit Airlines and Frontier Airlines, which advertise low base fares but rely more on ancillary revenue than legacy carriers, opposed the rule as well....
...The airline had initially signed up to a stock merger with Frontier Group, a similar deep discounter like Spirit....
...JetBlue was victorious in a bidding war with Frontier Airlines to acquire Spirit in 2022....
...The lawsuit comes after JetBlue prevailed in a bidding war with Frontier Airlines to acquire Spirit last July....
...The department, which has the power to fine the airlines, eventually forced Frontier to refund $222mn to customers, but the $2.2mn fine levied is a relatively small amount, only 7 per cent of the airline...
...New York-based JetBlue will buy Florida’s Spirit for $3.8bn, or $33.50 a share, after Spirit’s deal with preferred merger partner Frontier Airlines, a fellow ultra low-cost carrier, fell apart on Wednesday...
...It represents a victory for JetBlue, which has been desperately trying to break up Spirit’s agreed all-stock merger with Frontier Airlines....
...Another US airline, JetBlue, however, crashed the proceedings in April with a blowout all-cash offer for Spirit....
...Spirit Airlines said it expects the deal with Frontier to close in the second half of 2022....
...US competition authorities will have to weigh pros and cons in the same way in deciding whether to allow Frontier Airlines and Spirit Airlines to join forces....
...US low-cost carrier Frontier has agreed to acquire rival Spirit for $6.6bn, including net debt, in what would be the first large airline merger since the industry was rocked in 2020 by travel bans and lockdowns...
...The board of the US no-frills airline signed up to an all-stock merger with arch-rival Frontier in February. That valued Spirit at nearly $7bn in aggregate....
...A version of this article was first published by Nikkei Asia on July 19. ©2022 Nikkei Inc. All rights reserved....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com. You can build it, but will they come?...
...Closer to Earth and much greener, Sylvia Pfeifer reports American Airlines, Virgin Atlantic and aircraft leasing group Avolon have made preliminary commitments to buy up to 1,000 electric air taxis from...
...Frontier Airlines, another US carrier, is set to go public on the Nasdaq in the coming weeks....
...(Nikkei Asia) News round-up Credit Suisse securitises yacht loans to oligarchs and tycoons (FT) US budget airline Frontier to buy rival Spirit for $6.6bn (FT) Landmark Credit Suisse money laundering...
...executive pay, companies that took the money agreed not to lay off staff or axe routes until September 30 — even though air passenger volumes in the US have fallen by more than 90 per cent since March, and a V-shape...
...Their constant tug of war may become a thing of the past, however, as the banks transform their businesses and diversify away from traditional investment banking operations into new frontiers....
...New frontiers (2): WeChat pay has unveiled a credit scoring system for its 600m users, according to Asia Times Financial....
...(FT, Barron’s) What else we’re reading The last oil frontier Oil exploration is a risky, time-consuming and expensive endeavour....
...UK LFL sales growth was +3.9% ex splits (+3.0% 3Q) and +2.6% inc splits (+1.4% 3Q). RoI LFL sales growth was -1.0% ex splits and -2.4% inc splits....
...Their concentrated ownership of industries such as airlines and pharmaceuticals may push up travel and drug prices, some academics argue....
...WPP will also reduce is planned capex from £400m to v£300m....
...Nodding to the slump in airline shares sparked last month by fears of a new price war after United Continental announced plans to boost capacity, in order to compete with low-cost carriers like Frontier,...
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