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JetBlue boost bid on Spirit

Improved hostile proposal aimed at blocking merger with Frontier Airlines

US low-cost air carrier JetBlue has strengthened its takeover bid for airline Spirit Airlines. The current proposal, which rose to 33.50 dollars per share, is 67.6% better than what was offered by low-cost carrier Frontier Airlines, a rival in the race to acquire a majority stake in Spirit Airlines. However, the Frontier-JetBlue merger remains the most certain horizon for now. 

"We believe Spirit's shareholders will be even more pleased with these improved terms, including additional regulatory commitments to obtain antitrust approval. We are prepared to move quickly to reach a merger agreement", said JetBlue CEO Robin Hayes.

"After discussions with the Spirit team last week -the manager added- and a further due diligence review, we are more convinced than ever that a JetBlue-Spirit transaction would create a true domestic competitor to the Big Four and provide value to all stakeholders". 

On the same topic see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency