Less than 14 hours after the shareholders of Spirit rejected a merger with Frontier Airlines, a deal was announced between the two airlines.
Six weeks after Spirit announced an agreement in principle to merger with Frontier, JetBlue tried to acquire the airline.
The combination of low fares and exceptional service will allow the airline to bring it to more customers on more routes. Together, we will create a fifth-largest carrier in the US. We will continue to work together to bring down fares from the big four airlines. This combination will allow us to expand our network, add jobs, and expand our platform for profitable growth.
The merger of the two airlines would create the nation's fifth largest airline, if regulatory approval is granted. The deal includes $33.50 a share in cash for Spirit.
We look forward to working with JetBlue to complete the transaction as we unite with them to create the most compelling national low-fare challenger to the dominant U.S. carriers. "Bringing our two airlines together will be a game-changer and we are confident that JetBlue will deliver opportunities for our Guests and Team Members with their unique blend of low fares and award-winning service." The commitment of our spirit family is appreciated by us. There is a shared belief in what the combined airline can bring for our Guests and that is reflected in today's announcement.
Christie and the Board of Directors of the airline fought against a merger with the airline out of fear that it would be rejected by regulators.
The transaction is expected to be completed by the first half of the first century.
On Wednesday, the low-budget carrier announced that it had terminated its previous agreement with Frontier and that its shareholders had rejected the Frontier deal.
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