Spirit Airlines Rejects JetBlue's Offer and Moves Forward With Frontier

Spirit Airlines was recently faced with a big choice after a new bid complicated plans for a merge with Frontier Airlines.

Not long after Spirit and Frontier Airlines announced plans to merge, JetBlue submitted a $3.6 billion bid to purchase Spirit. Spirit Airlines’s board committed to considering both offers, and today they officially made a decision.

Spirit Airlines will be moving forward with Frontier Airlines with the $2.9 billion merger, according to the Orlando Sentinel. The board determined that the JetBlue offer “isn’t a superior proposal.”

Spirit came to this decision after speaking with financial and legal advisors, and they announced today that JetBlue’s offer “is not reasonably capable of being consummated.” Spirit Chairman Mac Gardner stated that the JetBlue offer had “an unacceptable level of closing risk” for shareholders.

According to Spirit, Frontier’s offer is “the best way to maximize value” and they will likely finalize the merger later in 2022. This deal will create the fifth-largest air carrier in the U.S. In Florida, Spirit and Frontier Airlines are ranked as the second and third busiest airlines at Orlando International Airport.