Spirit Airlines pilots have voted to ratify a new collective bargaining agreement, which includes provisions in case the ULCC's merger with JetBlue collapses.
Spirit Airlines is keeping the focus on customers as it navigates a potential merger with JetBlue Airways, which was officially approved by Spirit’s shareholders last week.
Frontier Airlines may have lost the bidding war for Spirit Airlines, but its future as a standalone carrier looks bright—especially with its largest ULCC competitor now out of the picture.
Spirit Airlines agreed to be acquired by JetBlue Airways in an all-cash deal valued at $3.8 billion, a move that comes one day after its shareholders formally rejected a competing offer from Frontier Airlines.
If Spirit and JetBlue do eventually agree on the terms of a transaction, they will still need shareholder approval as well as antitrust approval from the U.S. Justice Department.
JetBlue Airways upgraded its proposal for Spirit Airlines again as the tit-for-tat bidding war with Frontier Airlines heated up ahead of a June 30 shareholder vote.
JetBlue Airways sweetened the terms of its bid to acquire Spirit Airlines, part of an effort to win over Spirit’s shareholders ahead of a fast approaching vote on whether to merge with Frontier Airlines.