JetBlue Airways reached a deal to buy Spirit Airlines, hours after the discount carrier scrapped plans to merge with Frontier Airlines. JetBlue said it will pay $33.50 a share in cash for Spirit in a $3.8 billion deal.
A JetBlue acquisition of Spirit would create the country’s fifth-largest carrier, and if approved by regulators, would leave Frontier as the largest discount carrier in the U.S.
JetBlue’s surprise, all-cash bid for Spirit in April had thrown Spirit’s plan to combine with fellow discounter Frontier into question
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JetBlue reached a deal to buy Spirit for $3.8 billion, creating the fifth-largest U.S. carrier after a fierce bidding war with Frontier https://t.co/63gjYsT2wi
— The Wall Street Journal (@WSJ) July 28, 2022