In-depth look: Understanding the Spirit Airlines merger

Being billed as one of the last of the US mega-mergers, JetBlue and Spirit are to combine in a multi-billion dollar agreement. Chris Sloan reviews the deal

It’s official. JetBlue is poised to become the United States’ fifth largest carrier after beating Frontier in a heated and protracted bidding war for control of Spirit Airlines (NK). On July 28, 2022, the Spirit and JetBlue boards of directors agreed a definitive merger under which JetBlue (B6) will acquire Spirit for $33.50 per share in cash for $3.8bn, valuing the entire enterprise at $7.6bn. If approved by the US Department of Justice, the transaction is expected to close by early 2024.

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