Spirit update and JetBlue

Frontier Airlines has announced that it will no longer raise its bid to purchase Spirit Airlines, possibly opening the door for JetBlue Airways to finalize the takeover of the low-cost carrier. Frontier’s CEO also stated that the airline’s revised merger agreement from the previous month would be their best and final offer.

Frontier Airlines has announced that it will no longer raise its bid to purchase Spirit Airlines, possibly opening the door for JetBlue Airways to finalize the takeover of the low-cost carrier. Frontier’s CEO also stated that the airline’s revised merger agreement from the previous month would be their best and final offer.

Frontier initially had a cash-and-stock deal with Spirit in February. After JetBlue’s offer in April, Frontier had revised the cash component of its deal to $4.13 per share and the reverse termination fee to $350m.

Shareholders of Spirit Airlines have been asked to adjourn a vote on a proposed merger until 27 July.

www.flyfrontier.com

www.spirit.com

www.jetblue.com

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