Frontier Airlines and Spirit Airlines, which are two notable carriers in the U.S for providing low fares to it’s passengers, are expected to merge in a $6.6 billion deal.

This deal will make this merger the fifth largest airline carrier in the country. This investment makes a competitive push in the aviation industry, specifically in providing low air fares.

Spirit Airlines CEO Ted Christie made a statement about the merger. “This transaction is centered around creating an aggressive ultra-low fare competitor to serve our guests even better, expand career opportunities for our team members and increase competitive pressure, resulting in more consumer-friendly fares for the flying public…”

For reference, the most recent enterprise merger in the aviation industry was Alaska Airlines and Virgin America’s merger back in 2016.

Frontier Chairman Bill Franke will head this merged company, and will “create America’s most competitive ultra-low fare airline for the benefit of consumers.”

In a time where the aviation industry saw drawback due to the COVID-19 induced pandemic, this deal is a substantial one to note. This is an evident step in providing fast growing discount fares to customers and compete on price, as there is sentiment that price sensitive could increase in today’s economic environment.

There is not yet a name for this merged company quite yet, nor is there a location for the headquarters. After the transaction is fully completed, that information will be released to the general public.