JetBlue Airways has struck a deal to buy Spirit Airlines in a transaction valued at $3.8 billion, laying the foundation for the creation of a low-fare challenger to the dominant Big Four U.S. airlines. The companies jointly announced on July 28 that their boards have given the green light to a definitive merger agreement, which came hours…
JetBlue Strikes Deal to Buy Spirit Airlines to Create 5th Biggest US Carrier
Frontier Declines to Further Escalate Bidding War for Spirit Airlines
Low-cost carrier Frontier Group Holdings Inc. has declined to further raise its bid for takeover target Spirit Airlines Inc., potentially drawing curtains on its months-long bidding war with JetBlue Airways Corp. Spirit signed a cash-and-stock deal with rival Frontier in February to form a new no-frills airline and compete against big national carriers. In April,…
Spirit Airlines, a Bidding War Target, Postpones Buyout Vote
Spirit Airlines, the target of a budget airline bidding war, is postponing a Friday shareholder vote on whether to accept one of those buyout offers after a flurry of counter-proposals from Frontier Airlines and JetBlue. The decision to postpone a vote comes two days after JetBlue improved its offer. Spirit said Wednesday that has rescheduled…
JetBlue Improves Offer to Acquire Spirit Airlines
JetBlue has raised its buying price to acquire Spirit Airlines, making several amendments to its tender offer to Spirit investors to acquire the smaller airline just days before investors vote on whether to approve a competing buyout offer from Frontier Airlines. On Monday, JetBlue sweetened the deal in its pitch to shareholders by raising its…
Rebuffed by Spirit, JetBlue Goes Hostile in Takeover Bid
JetBlue launched a hostile takeover bid for Spirit Airlines on Monday and asked shareholders of the low-cost carrier to reject a proposed acquisition by Frontier Airlines. JetBlue hopes that its move will push Spirit’s board to the negotiating table after the board rejected an earlier offer. Spirit said that it will “carefully review” JetBlue’s tender…
Deutsche Bank Predicts Looming US Recession; GM, Honda to Build $30K Electric Car | NTD Business
The Federal Reserve is detailing how it’s going to tighten monetary policy. How would it impact the economy? China is seeking to increase oil production by investing billions of dollars, and it wants to be more energy independent. Can Beijing do it? JetBlue is trying to win a bidding war with Frontier to buy Spirit. What’s…
JetBlue Offers $3.6 Billion for Spirit in Low-Cost Carrier Battle
WASHINGTON—JetBlue Airways said Tuesday it made an unsolicited $3.6 billion bid for Spirit Airlines, potentially snarling merger plans between the ultra-low-cost carrier and Frontier Group Holdings. JetBlue Chief Executive Officer Robin Hayes said the deal would make the New York-based airline a stronger competitor to the so-called four legacy U.S. airlines that control nearly 80…
American Airlines, JetBlue Ask Court to Throw Out US Antitrust Suit
WASHINGTON—American Airlines and JetBlue Airways Corp asked a U.S. judge on Monday to dismiss an antitrust lawsuit filed by the Justice Department and six states over the company’s “Northeast Alliance” partnership. The suit filed in September alleges the deal would lead to higher fares in busy northeastern U.S. airports and seeks to unwind the alliance….
US Judge Sets Trial Date in American Airlines, JetBlue Antitrust Lawsuit
The judge hearing the U.S. Justice Department’s antitrust case against American Airlines Group Inc. and JetBlue Airways Corp. has set a trial date for the second half of next year. U.S. District Judge Leo Sorokin in Boston scheduled the case to begin Sept. 26, 2022, according to court documents filed on Friday. The trial stems…
Justice Department Sues to Block JetBlue, American Airlines Alliance
The Department of Justice (DOJ) on Tuesday sued American Airlines and JetBlue to block an alliance between the two airlines that allegedly violates antitrust laws. The lawsuit targets the so-called “Northeast Alliance” between American and JetBlue, which combines their operations at four major airports in Boston, New York, and New Jersey. The DOJ alleges that the…
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