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Spirit Airline Shareholders Clear Path to JetBlue Merger
The path to a merger is clearer, with Spirit Airlines shareholders voting in favor of a merger with JetBlue.
JetBlue made a bid to purchase Spirit in early April, ending an attempt by rival Frontier Airlines to merge with Spirit. The deal, ultimately worth some $3.8 billion, needed shareholder and regulatory approval.
According to Reuters, the former issue has been resolved, with Spirit’s shareholders voting in favor of the deal. Although exact numbers won’t be revealed until an upcoming regulatory filing, the majority of shareholders did vote in favor.
Regulatory approval could still prove to be a challenge, although the two airlines will no doubt make the case that they need to merge to continue competing with their larger rivals, especially as the industry continues to recover from the pandemic.
Spirit Airline Shareholders Clear Path to JetBlue Merger
Matt Milano
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