JetBlue Buys Spirit For $3.8 Billion, Forming Nation's Fifth-Largest Airline

CBS Los Angeles

July 28, 2022

JetBlue is buying Spirit Airlines for $3.8 billion, creating the nation's fifth-largest airline.

The agreement, announced Thursday, comes a day after Spirit's attempt to merge with Frontier Airlines fell apart.

JetBlue will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve the transaction. There's also a ticking fee of 10 cents per month starting in January 2023 through closing.

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