A match made in airline (fee) heaven: Budget airlines Frontier and Spirit to merge

Budget airlines Frontier Airlines and Spirit Airlines, rapidly growing airlines known for cheap fares and a pile of fees, plan to merge.

The airlines announced the deal on Monday, calling the combined airline the country's "most competitive ultra low-fare airline.'' It will be the nation's fifth-largest airline based on seat capacity and seventh largest based on annual revenue.

The name of the merged airline has not been determined, the airlines say. It will have more than 1,000 daily flights to more than 145 destinations in the United States, Latin America and the Caribbean, with a fleet of nearly 300 planes. Denver-based Frontier is strong in the western U.S., Florida-based Spirit on the East Coast.

The deal, which is expected to close in the second half of the year, s subject to regulatory approval.

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