JetBlue Airways has announced that it would purchase Spirit Airlines, thus making the combination America’s fifth-largest airline.
The announcement comes after Spirit pulled the plug on a deal to merge with Frontier.
JetBlue had been pursuing a hostile bid for Spirit even while Spirit sought shareholder approval for a lower-priced deal with Frontier.
The announcement comes after Spirit pulled the plug on a deal to merge with Frontier earlier.
Spirit had continually expressed concern about whether regulators would approve a deal with JetBlue.
Shareholders had balked at accepting Frontier’s less-valuable cash-and-stock offer when they had JetBlue’s all-cash offer on the table.
JetBlue CEO Robin Hayes said the deal will be fruitful for investors and passengers.
“We are excited to deliver this compelling combination that turbocharges our strategic growth, enabling JetBlue to bring our unique blend of low fares and exceptional service to more customers, on more routes,” he said in a statement.
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Edited by Jesus Chan
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