JetBlue has agreed to buy Spirit Airlines in a $3.8 billion deal, a day after Spirit and Frontier Airlines agreed to abandon their merger proposal.
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 combined airline, which will be based in New York and led by Hayes, would have a fleet of 458 aircraft. The airlines will continue to operate independently until after the transaction closes. If the deal doesn't close due to antitrust reasons, JetBlue will pay Spirit a reverse break-up fee of $70 million and stockholders of Spirit a reverse break-up fee of $400 million less any amounts paid to stockholders of Spirit prior to termination.
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After hot bidding war JetBlue agrees to buy Spirit for $3.8BJetBlue has agreed to buy Spirit Airlines in a $3.8 billion deal, a day after Spirit and Frontier Airlines agreed to abandon their merger proposal.
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JetBlue Agrees To Buy Spirit Airlines For $3.8B After Bidding War, Fares Could SurgeJUST IN: JetBlue Airways has agreed to buy Spirit Airlines for $3.8 billion and create the nation’s fifth-largest airline if the deal can win approval from antitrust regulators. The bad news? This could mean more expensive flights.
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