SAVE - Spirit Airlines: Is A Merger Termination The End For This Airline?
2024-01-28 07:01:36 ET
Summary
- JetBlue has informed Spirit Airlines that their merger agreement may be terminated on or after January 28, 2024.
- The approval odds for the merger were never high, and analysts and investors were not expecting it to be approved.
- While JetBlue may not get the merger it wanted, it avoids competing with a potential Spirit-Frontier combination and will pay $470 million to Spirit Airlines to prevent the merger.
The merger saga between Spirit Airlines (SAVE) and JetBlue (JBLU) is set to get an end that neither Spirit Airlines nor JetBlue were hoping for. The latest news is that JetBlue has informed Spirit Airlines that according to the merger agreement, said agreement may be terminable on or after the 28th of January 2024. While JetBlue and Spirit have filed a Notice of Appeal, one can wonder how serious both parties are in still pursuing a business combination....
Spirit Airlines: Is A Merger Termination The End For This Airline?