Indigo Partners-backed Frontier Airlines to merge with Spirit Airlines.

Indigo Partners-backed Frontier Airlines, a major American ultra low-cost airline, offered to merge with Spirit Airlines, an American airline company. Financial terms were not disclosed. "While we are pleased with the strong results Frontier has been able to deliver through the execution of our business strategy, we have long believed a combination with Spirit would allow us to unlock additional value creation opportunities. As a combined airline, we would be positioned to offer more options and deeper savings, as well as an enhanced travel experience with more reliable service," Barry Biffle, Frontier CEO.