Established in Feb-2000, JetBlue is a low cost/hybrid carrier based at New York JFK International Airport, with secondary hubs at Boston Logan, Fort Lauderdale-Hollywood, Orlando International, Washington Dulles and Long Beach airports. JetBlue has an extensive network that serves destinations in the United States, the Caribbean, as well as Central and South America. Following the completion of its Fly-Fi rollout, JetBlue is the first carrier to offer gate-to-gate Wi-Fi connectivity on all domestic services.
On 05-Apr-2022, JetBlue Airways submitted a proposal to acquire Spirit Airlines for USD3.6 billion. JetBlue maintains its proposal constitutes a "superior proposal" compared to Spirit's planned USD6.6 billion merger with Frontier Airlines, announced on 08-Feb-2022 and set to close in 2H2022 subject to government approval.
JetBlue Airways enhanced its proposal to acquire Spirit Airlines for USD3.6 billion on 02-May-2022. Spirit Airlines will continue to work towards finalising the transaction with Frontier. On 06-Jun-2022, JetBlue Airways updated its proposal to acquire Spirit Airlines to offer an increased reverse termination fee of USD350 million payable to Spirit if the transaction is unable to be finalised due to antitrust concerns. On 20-Jun-2022, JetBlue Airways revised its proposal to acquire Spirit Airlines, increasing its cash offer from USD31.50 to USD33.50 per Spirit share. JetBlue Airways further amended its proposal to acquire Spirit Airlines on 27-Jun-2022 to offer an increased reverse termination fee payable from USD350 million to USD400 million. On 28-Jun-2022, Spirit Airlines reaffirmed its commitment to its merger agreement with Frontier Group Holdings following JetBlue Airways' revised proposal to acquire the airline. JetBlue Airways extended its tender offer to purchase all outstanding Spirit Airlines shares for USD30 per share until 29-Jul-2022.
On 27-Jul-2022, Spirit Airlines announced the termination of its merger agreement with Frontier Group Holdings. On 28-Jul-2022, JetBlue Airways and Spirit Airlines' board of directors approved a definitive merger agreement. The agreement is valued at approximately USD3.8 billion, with an adjusted enterprise value of USD7.6 billion. The carrier will be based in New York led by JetBlue CEO Robin Hayes. The transaction is expected to close by 1H2024, subject to regulatory approval.
CAPA Profiles help you identify new business opportunities and make better business decisions, by providing accurate and up-to-date data on airports, airlines, suppliers, investors, MROs, lessors and countries/territories around the world. Each profile offers comprehensive news and analysis, as well as the ability to drill down into data on schedules, capacity share, fleet, traffic, financial results and more.Become a CAPA Member
Our full profiles are only available to CAPA Members. CAPA Membership provides exclusive access to the information you need to monitor the competitive landscape and guide your organisation towards success.
It’s ideal for industry analysts, managers and executives who need a snapshot of the latest news, analysis and data from our global team, with the ability to export or email PDF reports in one click.
- 5000+ airports
- 3000+ airlines
- 1600+ suppliers
- 800+ airport investors
- 250+ countries/territories and regions
- And more
CAPA Membership also gives you access to a customised selection of more than 1,000 global News Briefs every week, as well as a comprehensive Data Centre, Analysis Reports and Research Publications. You can also choose from our range of premium add-ons, including Route Maps, Fleet Data and more.