JetBlue agrees to buy Spirit for $3.8 billion

Source: Seattle Times

“JetBlue has agreed to buy Spirit Airlines for $3.8 billion in a deal that would create the nation’s fifth largest airline if approved by U.S. regulators. The agreement Thursday comes a day after Spirit’s attempt to merge with Frontier Airlines fell apart. Spirit had recommended its shareholders approve a lower offer from Frontier, saying that antitrust regulators are more likely to reject the bid from JetBlue. … The combined airline, which will be based in New York and led by [JetBlue CEO Robin] Hayes, would have a fleet of 458 aircraft. The airlines will continue to operate independently until after the transaction closes.” (07/28/22)