If you’re looking for low-cost airfare, Spirit Airlines and Frontier Airlines frequently offer some of the cheapest flights to Orlando, and they’re currently ranked as the 2nd and 3rd (respectively) busiest airlines at Orlando International Airport.
Back in February, we shared the plans for Spirit and Frontier Airlines to merge into the fifth-largest airline carrier in the U.S., which was set to take place later in 2022 after approval from the airlines’ stockholders. Now JetBlue Airways may have thrown a wrench in those plans!
It was reported in February that the parent company of Frontier Airlines was buying Spirit Airlines in a “2.9 billion cash-and-stock deal,” which was valued at around $6.6 billion in total.
Today, however, CNBC reported that JetBlue Airways has made a $3.6 billion cash offer for Spirit Airlines. As per CNBC, Spirit shared that its board is “evaluating JetBlue’s proposal” and will “pursue the course of action it determines to be in the best interests of Spirit and its stockholders.”
Spirit share trading was halted before the market closed on Tuesday, and stock prices increased by 22% to $26.92. JetBlue reportedly offered $33 a share in their bid for Spirit, while JetBlue shares decreased by approximately 7%.
Both JetBlue and Spirit have operations in Florida, with Spirit actually headquartered there. JetBlue CEO Robin Hayes and COO Joanna Geraghty wrote to employees that Spirit and JetBlue are the “perfect match,” with JetBlue being the only airline that offers low fares and a great experience.
Frontier Airlines said that a merger between JetBlue and Spirit could lead to more expensive travel, and they questioned the timing of the merger as JetBlue is currently being sued by the Department of Justice over their U.S. Northeast partnership with American Airlines.
Currently, four major airline carriers are in control of over 70% of the U.S. market, after years of consolidations in the industry, so either direction Spirit decides to merge will create a 5th major airline carrier.
Keep following AE for more news!
Read more about the Spirit and Frontier Airlines proposed merge here.
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Have you flown on Spirit or Frontier? Tell us in the comments!
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