JetBlue will buy Spirit Airlines: how this acquisition will improve its service

JetBlue Airways Corporation announced that it will acquire Spirit Airlines Inc. for $3.8 billionpaying $33.50 per share in cash, including a prepayment of $2.50 per share if Spirit shareholders approve the deal and a fee of $0.10 per month until the deal is signed.

“We are excited to offer this compelling combination that drives our strategic growth, allowing JetBlue to bring our unique combination of low fares and exceptional service to more customers, on more routes. We look forward to welcoming the outstanding members of the Spirit team to JetBlue and together create a fifth largest customer-focused airline in the United States.” said Robin Hayes, CEO of JetBlue.

The agreement will offer consumers more options, among others:

– Bring the JetBlue Experience to all aircraft, offering the combination of low rates and better service to more customers.

– The acquisition will accelerate JetBlue’s organic growth plan with more than 1,700 daily flights to more than 125 destinations in 30 countries.

Increased relevance of JetBlue in certain key focus cities (Fort Lauderdale, Orlando, San Juan, and Los Angeles)as well as hubs for the four major airlines (Las Vegas, Dallas, Houston, Chicago, Detroit, Atlanta, and Miami).

– The combined airline will have a fleet of 458 pro forma aircraft and an order book of more than 300 Airbus aircraft with the option of new fuel-efficient and lower-carbon engines, providing greater flexibility and efficiency while mitigating the risk of limited aircraft availability.

Provide more career growth optionsexpanded travel benefits and more opportunities to make a difference in the communities JetBlue and Spirit serve.

Spirit and JetBlue will continue to advance our shared goal of transforming the industry to lower fares for the Big Four airlines. This combination is an exciting opportunity to diversify and expand our network, add jobs and new possibilities for crew members, and expand our platform for profitable growth,” added Hayes.

Ted Christie, Chairman and CEO of Spirit, said, “We are delighted to join JetBlue through our enhanced agreement to create the most compelling domestic low-fare challenger for the mainstream market.”

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