Established in 1992, Spirit Airlines is an ultra low cost carrier headquartered in Miramar, Florida. The carrier operates services to destinations across the US and the Caribbean.
In Feb-2022, Frontier Airlines and Spirit Airlines announced a USD6.6 billion definitive merger agreement to create a new, competitive ULCC. The merger was expected to close in 2H2022. On 27-Jul-2022, Spirit Airlines announced the termination of its merger agreement with Frontier Group Holdings. Spirit Airlines is obligated to reimburse USD25 million of Frontier's incurred merger-related costs, as per the terms of the now-terminated Frontier/Spirit merger agreement.
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.
On 07-Mar-2023, US Department of Justice filed a civil antitrust lawsuit against JetBlue Airways to block the carrier's proposed USD3.8 billion acquisition of Spirit Airlines under Section 7 of the Clayton Act.
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