Debevoise Advises Spirit in Its Merger with Frontier in a Transaction Valued at $6.6 Billion

7 February 2022

Debevoise & Plimpton LLP is advising Spirit Airlines, Inc. (NYSE: SAVE) in its merger with Frontier Group Holdings, Inc. (NASDAQ: ULCC), parent company of Frontier Airlines, Inc. in a transaction valued at $6.6 billion when accounting for the assumption of net debt and operating lease liabilities. The combined airline will serve over 145 destinations across the U.S., Latin America and the Caribbean, with a fleet that will be the youngest, most fuel-efficient and greenest in the U.S. The merger is expected to close in the second half of 2022. For more information, please see the companies’ press release.

Spirit serves destinations throughout the U.S., Latin America and the Caribbean and is committed to delivering the best value in the sky. Frontier operates more than 110 A320 family aircraft and has the largest A320neo fleet in the U.S.

The Debevoise team is led by M&A partners Gregory Gooding and William Regner and includes counsel Molly Stockley and associates Marisa Demko and Katherine Durnan and law clerks Matthew Ryan and Niusha Tavassoli, finance partners Paul Brusiloff and Brian Liu and associate Robert Gucwa, benefits partners Lawrence Cagney and Simone Hicks, associate Sandy De Sousa and law clerk Christopher Johnson, tax partner Peter Furci and associates Jay Evans and Benjamin Friedman, capital markets partners Eric Juergens and Matthew Kaplan, associate Jason Auman and law clerk Austin Poon, and intellectual property associate Tigist Kassahun.