Frontier Airlines will pay Spirit Airlines Inc. a $250 million breakup fee if regulators block a merger between the two carriers, under a new agreement by the companies Thursday.
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Frontier Airlines will pay Spirit Airlines Inc. a $250 million breakup fee if regulators block a merger between the two carriers, under a new agreement by the companies Thursday.
The move comes as Spirit SAVE, +3.99% tries to win investor support for its merger with Frontier ULCC, +0.59% and fend off a hostile bid from rival JetBlue Airways Corp. JBLU, +2.83%.
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