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MIAMI – JetBlue has agreed to buy Spirit Airlines for $3.8 billion in a deal that will create the nation’s fifth largest airline if accredited by U.S. regulators.
The settlement Thursday comes a day after Spirit’s try to merge with Frontier Airlines fell aside. Spirit had really helpful its shareholders approve a decrease supply from Frontier, saying that antitrust regulators are extra probably to reject the bid from JetBlue.
JetBlue mentioned Thursday that it could pay $33.50 per share in money for Spirit, together with a prepayment of $2.50 per share in money payable as soon as Spirit stockholders approve the transaction. There’s additionally a ticking charge of 10 cents per 30 days beginning in January 2023 by way of closing.
The mixed airline would have a fleet of 458 plane. The airways will proceed to function independently till after the transaction closes.
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