Deutsche Bank analyst Michael Linenberg downgraded Spirit Airlines to Hold from Buy.

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Frontier Group Holdings (ULCC) commented on Spirit Airlines' (SAVE) announcement that it is urging shareholders to reject JetBlue Airways' unsolicited tender offer to acquire all outstanding shares of Spirit's common stock."We are pleased that the Spirit Board of Directors has again reaffirmed its commitment to combining with Frontier, which increases competition by bringing more ultra-low fares to more travelers and delivering substantial shareholder value," said Barry Biffle, President and CEO of Frontier. "We are working with Spirit to complete our merger and create a true nationwide ultra-low fare airline to compete against the dominant 'Big Four' airlines and other high-cost airlines, including JetBlue. Together, we will super-charge the ultra-low-cost carrier model and create an even better option for consumers. He continued, "The Spirit Board of Directors took the right step in urging its shareholders to reject JetBlue's proposal and vote FOR the merger with Frontier. We continue to believe that JetBlue is worried about increased competition and put forward a proposal for a transaction that, simply put, can't be completed. We remain focused on moving forward with Spirit to drive competition and deliver enhanced value to all of our stakeholders." Frontier noted the following: "Unlike the compelling Spirit-Frontier combination, an acquisition of Spirit by JetBlue, a high-fare carrier, would lead to fewer options and more expensive travel for consumers. JetBlue has stated it will reduce capacity and raise fares on Spirit routes. The Transport Workers Union has publicly stated that it opposes JetBlue's proposed hostile takeover, noting JetBlue's intentions to eliminate thousands of jobs and low-cost flight options for customers as part of its proposal."

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