Tag: Frontier

  • Spirit Airlines rejects another Frontier Airlines acquisition worth .16B

    Spirit Airlines rejects another Frontier Airlines acquisition worth $2.16B

    • Spirit Airlines rejected an acquisition offer worth about $2.16 billion from Frontier Group.
    • Spirit and Frontier have been in merger talks since at least 2022, even before Spirit filed for bankruptcy in 2024.
    • Spirit Airlines filed for bankruptcy due to prolonged periods of financial losses and a substantial debt load.

    Spirit Airlines on Tuesday rejected Frontier Group’s acquisition offer, worth about $2.16 billion, saying the bid from its fellow ultra-low-cost carrier was less beneficial to shareholders than its ongoing reorganization plan.

    Frontier’s offer was a reiteration of its proposal from earlier this month in which it proposed Spirit’s shareholders would get $400 million in debt and a 19% stake in Frontier.

    However, it dropped a requirement that Spirit complete a $350 million equity rights offering and use the proceeds to retire its debtor-in-possession facility. It also requires the bankruptcy court-approved $35 million termination fee be waived.

    SPIRIT AIRLINES NO LONGER ALLOWING PASSENGERS WITH INAPPROPRIATE CLOTHING OR TATTOOS TO FLY

    Spirit, which filed for bankruptcy protection last year and expects to complete its restructuring in the first quarter, said the revised proposal did not address certain material risks and issues it had previously identified.

    Spirit Airlines rejected Frontier Group’s latest acquisition offer, worth about $2.16 billion, on Feb. 12, 2025.  (Reuters/Mike Blake/File Photo / Reuters)

    Instead, the Florida-based airline offered a counterproposal in which Spirit shareholders would get $600 million in debt and $1.185 billion in equity — which Frontier rejected.

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    The two companies had been in merger talks since at least 2022, even before Spirit filed for bankruptcy due to prolonged periods of financial losses and a substantial debt load.

    However, JetBlue Airways jumped into the fray and prevailed. But that deal was scrapped after a U.S. judge blocked it on anti-competition concerns.

    Frontier revived its takeover efforts earlier this year, but Spirit had said the first offer was inferior to the one the two companies had discussed last year and sought an assurance that the deal would close and Frontier would not walk away.

  • New frontier of AI-powered ‘teacher-less’ charter schools get mixed reviews from state officials

    New frontier of AI-powered ‘teacher-less’ charter schools get mixed reviews from state officials

    Artificial intelligence may be the new frontier for childhood schooling, but the idea of teacherless classrooms has received mixed reviews from state education officials.

    Unbound Academy, a Texas-based institution billing itself as the nation’s first virtual, tuition-free charter school for grades 4 through 8, reportedly employs AI to teach students in a way that can be geared toward the individual student without “frustration[s]” sometimes present in traditional schooling.

    While such schools have seen success in being approved to educate students in Arizona, Unbound was formally rejected by the Pennsylvania Department of Education in a letter obtained by Fox News Digital.

    WY MAN SOUGHT BID TO ELECT FIRST AI BOT MAYOR

    In a letter to an Unbound Academy official with a Lancaster office address, Secretary Angela Fitterer said her office has found “deficiencies” in all five criteria needed for approval to teach Keystone State students.

    Pennsylvania’s Charter School law denotes a school must demonstrate sustainable support for the cyber charter school plan from teachers, parents and students. It must also exhibit the capacity to provide “comprehensive learning experiences,” enable students to meet academic standards, and abide by Section 1747(a) of the law, which pertains to governance, policy, facility and assessment.

    “Artificial intelligence tools present unique opportunities in the classroom that educators across Pennsylvania are already exploring how to effectively, ethically and safely implement,” a spokeswoman for Fitterer told Fox News Digital.

    “However, the AI instructional model being proposed by this school is untested and fails to delineate how artificial intelligence tools would be used to ensure that the education provided aligns with PA state standards,” she said.

    In its application, Unbound cited its work with “2HR Learning” an “innovated educational approach that combines AI technology, personalized learning paths, and a focus on life skills development to revolutionize the learning experience,” according to the Scranton Times-Tribune.

    However, Unbound saw success in Arizona, which approved an academy for the 2025-26 school year, while being rejected in three states besides Pennsylvania, according to the Arizona Republic.

    Two hours are set aside for core instruction, and the rest of the day is geared toward students pursuing “personal interests” and life skills workshops.

    Unbound Academy co-founder MacKenzie Price told the paper the Grand Canyon State was appealing because of its welcoming of school choice tenets.

    Another state official on the frontier of educational evolution is Oklahoma Superintendent of Education Ryan Walters.

    SCOTUS TO CONSIDER EFFORT TO ESTABLISH NATION’S FIRST PUBLICLY-FUNDED RELIGIOUS CHARTER SCHOOL

    Words reading “Artificial intelligence AI,” miniature of robot and toy hand are pictured in this illustration taken on Dec. 14, 2023. (REUTERS/Dado Ruvic/Illustration/File Photo)

    In recent months, Walters has spearheaded efforts to return the Bible to schools, root out foreign influence in curriculum, and AMIRA – a new literacy initiative, among other endeavors. His state is also set to appear before the Supreme Court this term in regard to interest in allowing a Catholic charter school to receive state funding.

    Walters said he has not yet seen an application for Unbound or any other AI-powered charter school, but believes that if parents desire the option in the Sooner State, he will consider it.

    “You have to show parental support that they’re asking for it,” he said.

    “You also have to be very transparent. Where’s the technology based out of? Who is developing it? We do not want any situation where you’ve got a CCP or [similar] country, involved there with the technology. . . . You need to be very upfront. Where is the technology developed? What is the curriculum look like?” 

    With Oklahoma’s major agricultural sector, many schoolchildren work hours on their family farms when they’re not in class. Walters said virtual learning has helped Oklahoma families in the near-term, and suggested an AI school would have a similar setup.

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    He said his state is always open to the next frontier of childhood education.

    “Catholics have some of the most successful schools in our state in the country. They brought us a model that said we’d like to try out so many of the things that have worked for us in our private schools at a charter school. We can make it available for more kids,” he said.

    “We appreciate the Catholic Church for putting the application before us [and] the radical atheists and teachers union folks – they’re dead wrong on this.”

    Walters said – just as Harrisburg deemed the AI-powered charter school did not meet its qualifications – Oklahoma believes the new Catholic charter school met its criteria.

    “This is the next frontier of school choice – we want more schools. We want more charter schools.”

    Fox News Digital reached out to Unbound Academy for comment and further information on its other state applications.

  • Abdul Ghaffar Khan Birth Anniversary 2025: Know About Prominent Freedom Fighter and Spiritual Leader Known As Frontier Gandhi (Watch Video)

    Abdul Ghaffar Khan Birth Anniversary 2025: Know About Prominent Freedom Fighter and Spiritual Leader Known As Frontier Gandhi (Watch Video)

    Abdul Ghaffar Khan’s birth anniversary is celebrated in India every year on February 6. Abdul Ghaffar Khan Birth Anniversary 2025 falls on Thursday, February 6. Khan Abdul Ghaffar Khar, also known as Badshah Khan, was a prominent freedom fighter who strongly opposed the partition of India. He was born on February 6, 1890, into a wealthy Pashtun family. He was a devout Muslim and a spiritual leader who was renowned for his nonviolent opposition. Due to similar ideals and his close friendship with Mahatma Gandhi, he was also called ‘Frontier Gandhi.’ He advocated for Hindu-Muslim unity and even established the Khudai Khidmatgar, an anti-colonial nonviolent resistance movement, in 1929. The movement’s popularity resulted in various crackdowns on Khan and his supporters. During some years in the 1960s and 1970s, he was exiled or jailed. In 1987, the Indian government honoured him with the Bharat Ratna, India’s highest civilian award. To know more about Abdul Ghaffar Khan, watch the full Bharat Ratna – The Jewels Of India video below. International Day Of Education 2025: Remembering Maulana Azad, India’s First Education Minister (Watch Video).

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  • Frontier took another stab at buying Spirit. It didn’t work.

    Frontier took another stab at buying Spirit. It didn’t work.

    Frontier Airlines’ attempt to buy rival Spirit Airlines failed yet again. 

    Spirit Airlines, which filed for Chapter 11 bankruptcy protection late last year, rejected another bid from the airline’s parent, Frontier Group Holdings, saying it would not provide sufficient value to the airline. Spirit also raised concerns over the deal’s potential to secure regulatory and court approvals, according to a Wednesday regulatory filing. 

    Under Frontier’s proposed deal submitted on Jan. 7, stakeholders would have acquired $400 million in debt and attain a 19% stake in Frontier after the merger. The deal would also have required certain stakeholders to go through a $350 million stock offering to help pay the company’s debt. The funds left over would go to the combined company’s balance sheet.

    SPIRIT TERMINATES MERGER WITH FRONTIER AIRLINES

    The parties involved “determined that the Proposal would deliver less in value to the Company’s stakeholders than what was contemplated by the Company’s existing Plan,” the regulatory filing said. “The Company continues to advance through its restructuring process, which will significantly deleverage the Company and position it for long-term success,” Spirit said in the filing. 

    Signage at the Frontier Airlines check-in counter at Denver International Airport in Denver on Monday, Feb. 7, 2022. ( Michael Ciaglo/Bloomberg via Getty Images / Getty Images)

    The company, barring any new developments, will not delay its plans to emerge from Chapter 11 during the first quarter of 2025.

    The carrier first filed for bankruptcy protection in November to reduce the company’s total debt and provide increased financial flexibility. Spirit’s multiple failed mergers – one with Frontier and another with JetBlue – left the ultra-low-cost carrier in a bind after repetitive quarterly losses.

    SPIRIT AIRLINES PLANS TO SELL PLANES, CUT JOBS

    The company reportedly attempted to reignite potential merger talks with Frontier Airlines last year, after the airline was outbid by JetBlue. 

    Spirit and Frontier in bidding war

    A Frontier Airlines airplane taxis past a Spirit Airlines aircraft at Indianapolis International Airport in Indianapolis on Monday, Feb. 7, 2022. (Photographer: Luke Sharrett/Bloomberg via Getty Images / Getty Images)

    In 2022, Frontier and JetBlue had been in a monthslong bidding war for Spirit after Frontier Group Holdings and Spirit announced a definitive merger agreement. JetBlue won with its enticing bid worth $3.8 billion. 

    Ticker Security Last Change Change %
    ULCC FRONTIER GROUP HOLDINGS 8.16 +0.38 +4.88%

    However, in January 2024, the deal with JetBlue was blocked by regulators over concerns that the deal would hurt the availability of low-cost air travel tickets.

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    Spirit announced plans last fall to sell multiple aircraft and lay off workers as it tried to raise cash and revive operations. It also said it identified approximately $80 million in annualized cost reductions that it plans to implement in 2025.