JetBlue Airways submits USD3.6bn proposal to acquire Spirit Airlines

JetBlue Airways submitted (05-Apr-2022) 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 CEO Robin Hayes stated: "The combination of JetBlue and Spirit - coupled with the incredible benefits of our Northeast Alliance with American Airlines - would be a game changer in our ability to deliver superior value on a national scale to customers, crewmembers, communities, and shareholders. The transaction would accelerate our strategic growth and create sustained, long term value for the stakeholders in both companies". The proposed combined airline would have a fleet of 445 aircraft with a further 312 Airbus aircraft on order, and generate an estimated USD11.9 billion in revenue per year based on 2019 figures. [more - original PR]