Spirit, Frontier abandon merger bid, paving way for JetBlue deal

A combination of Spirit with either Frontier or JetBlue would create the nation’s fifth-largest airline, although it would be still quite a bit smaller than American, United, Delta and Southwest.Attention now will turn toward regulatory hurdles to a deal between Spirit and JetBlue.

Frontier and Spirit announced their deal on Feb. 7, saying they would create a huge discount airline that would save consumers $1 billion a year in airfares by creating a powerful new competitor to American, United, Delta and Southwest. Flight information for a Spirit airlines flight is displayed on the information board at the Miami International Airport on July 27, 2022 in Miami, Florida. Once Spirit was in play for a merger, however, JetBlue CEO Robin Hayes decided that he could not sit back and watch two budget carriers combine and leapfrog his airline in size. On April 5, JetBlue started a bidding war by announcing its own plan to take over Spirit.

Both Frontier and JetBlue raised their bids in recent weeks, including and increasing break-up fees for Spirit shareholders.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Spirit, Frontier end merger bid, paving way for JetBlue dealSpirit Airlines and Frontier Airlines agreed Wednesday to abandon their merger proposal, opening the way for JetBlue Airways to acquire Spirit.
Source: DenverChannel - 🏆 239. / 63 Read more »

Spirit Airlines shareholders to vote on much-delayed merger with Frontier or JetBlueSpirit Airlines shareholders could pick a preferred buyer for their airline today, when they are scheduled to vote on one of the offers for the budget carrier. If shareholders reject the Frontier bid it would push for an agreement with JetBlue Airways.
Source: denverpost - 🏆 13. / 72 Read more »

Two European Satellite Companies Are Combining in a $3.4 Billion Deal to Rival Elon Musk's SpaceXU.K. satellite firm OneWeb has agreed to be taken over by European rival Eutelsat in a $3.4 billion merger deal.
Source: NBCDFW - 🏆 288. / 63 Read more »

AT&T and Verizon eke out just one 5G network quality award each against T-MobileT-Mobile just upped the value of its Sprint merger synergies with $200 million.
Source: PhoneArena - 🏆 322. / 59 Read more »