By Michelle Chapman, AP Business Writer 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 will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve […]
Spirit Airlines
Posted inBusiness, News, Transportation
Frontier Airlines says it lacks the votes for Spirit merger
By David Koenig, The Associated Press Frontier Airlines, facing likely defeat in its bid to merge with Spirit Airlines, is asking for another delay in a shareholder vote on the deal. Frontier CEO Barry Biffle said in a letter made public Monday that his airline is “very far” from winning approval by Spirit shareholders, who […]
Posted inBusiness, News
Frontier sweetens its merger offer to Spirit Airlines with $250 million breakup fee
Frontier Airlines sweetened its offer for Spirit Airlines on Thursday by adding a $250 million termination fee if Frontier fails to complete the acquisition of the rival discount carrier. The new offer was endorsed by directors of both airlines. Spirit CEO Ted Christie said shareholders have indicated support for the strategic reason to combine with […]
Posted inBusiness, News
Spirit Airlines plans June vote on merger offer from Denver-based Frontier
Spirit Airlines shareholders are scheduled to vote June 10 on a $2.9 billion buyout offer from Frontier Airlines. Shareholders will be voting, in effect, whether to take Frontier’s bid and reject a higher offer from JetBlue Airways. The special meeting was detailed in a regulatory filings by Spirit and Frontier. JetBlue did not immediately comment […]
Posted inOpinion, Opinion Columns
Nicolais: Bargain hunters beware — flying Spirit and Frontier cost me plenty
In February, Denver-based Frontier Airlines announced its intention to buy Spirit Airlines. It spurred a lot of local excitement and a round of low-cost sales that people snatched up, me included. I definitely paid a premium for it in the end. My cousin’s memorial service was set for early April in Annapolis, so I booked […]
Posted inBusiness, News
JetBlue makes offer for Spirit Airlines, could spark bidding war with Denver-based Frontier Airlines
By David Koenig, The Associated Press JetBlue Airways has offered to buy Spirit Airlines for about $3.6 billion and break up a plan for Spirit to merge with rival budget carrier Frontier Airlines. Spirit said Tuesday that it received an unsolicited bid from JetBlue. It said its board will evaluate the offer and decide what’s […]