Spirit Airlines: Latest News

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Spirit Airlines - Merrick Garland - US sues to block JetBlue from buying Spirit Airlines in $3.8B merger - fox29.com - Usa - area District Of Columbia - state Massachusets - city Boston
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US sues to block JetBlue from buying Spirit Airlines in $3.8B merger
block JetBlue Airways' $3.8 billion purchase of Spirit Airlines, saying Tuesday that the deal would reduce competition and drive up air fares for consumers.The Justice Department said the tie-up would especially hurt cost-conscious travelers who depend on Spirit to find cheaper options than they can find on JetBlue and other airlines.Attorney General Merrick Garland held a news conference to announce the antitrust lawsuit — a sign of the importance that the administration places on stopping further consolidation in the airline industry."If allowed to proceed, this merger will limit choices and drive up ticket prices for passengers across the country" and "eliminate Spirit's unique and disruptive role in the industry," he said.The Justice Department lawsuit, filed in federal district court in Boston, stressed that the deal would mean the end of the nation's biggest "ultra-low-cost carrier." Those are airlines that generally provide the cheapest fares but also tend to charge more fees.The Justice Department lawyers said Spirit's demise would eliminate about half of all ultra-low-cost seats in the market.New York, Massachusetts and the District of Columbia joined the lawsuit. JetBlue and Spirit vowed to continue fighting to salvage their agreement.JetBlue and Spirit have anticipated a legal challenge for weeks.
Spirit Airlines - Frontier Airlines adds cash to sweeten offer for Spirit merger - fox29.com - New York - state Florida - city Hollywood - county Lauderdale - city Fort Lauderdale, state Florida
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Frontier Airlines adds cash to sweeten offer for Spirit merger
FORT LAUDERDALE, FLORIDA - MAY 16: A Frontier Airlines plane near a Spirit Airlines plane at the Fort Lauderdale-Hollywood International Airport on May 16, 2022 in Fort Lauderdale, Florida. JetBlue announced it is taking a hostile position in its eff Frontier Airlines on Friday added more cash and a larger breakup fee to its offer to buy Spirit Airlines, and the Spirit board repeated its preference for Frontier over a rival bid by JetBlue Airways.Frontier added $2 per share to its previous offer, boosting it to $4.13 in cash plus 1.9126 shares of Frontier for each Spirit share.The Denver-based airline also raised the amount it would pay Miramar, Florida-based Spirit if antitrust regulators stop the deal — from $250 million to $350 million — matching JetBlue's proposed breakup fee.Spirit said that, given the sweetened terms, its board reiterated its unanimous recommendation that shareholders approve the Frontier offer at a special meeting next Thursday.RELATED: Spirit should reject Frontier bid, advisers sayJetBlue said its proposal remains better than Frontier's with a higher value, more cash, "more certainty, and more regulatory protections."Frontier's move was the latest gambit in a fight between Frontier and JetBlue to see who gets the nation's largest discount airline.
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