Budget carriers Frontier Group Holdings and Spirit Airlines Inc on Monday unveiled plans to create the fifth-largest United States airline in a $2.9bn tie-up likely to tighten competition against traditional carriers.The proposal to form a new no-frills carrier controlled by Frontier Airlines pushed up shares of Spirit as much as 16.7 percent, though several analysts pressed the airlines over possible difficulties in obtaining regulatory approval.“In a competitive industry like ours, the lowest costs always win,” Frontier Chief Executive Barry Biffle told analysts. “These low costs will, in turn, enable us to keep our fares low for customers.”
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