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sandra: two low-cost airlines are hooking up. frontier is buying spirit for $3 billion in cash and stock as air fares could be going up. to phil keating to break it down for us, hi, phil. hi, sandra. the big picture deal is about $7 billion, which include net debt and operating leases. frontier will get 51.5% of the new company. the name of which has yet to be decided. however, the companies say the deal would add more than 1,000 flights to about 150 airports around the country and create 10,000 jobs over the next four years. in this statement, the ceo described the merger as this. this transactions is centered around creating an ultra low fair competitor to serve our

Sandra smithAir fares3 billionPhil keatingOperating leasesThe big picture7 billion151 5