Spirit Airlines shareholders voted Wednesday to accept a $3.8 billion buyout from JetBlue Airways, but the deal could still face a challenge from federal antitrust regulators.
A JetBlue Airways Airbus A320, left, passes a Spirit Airlines Airbus A320 as it taxis on the runway, July 7, 2022, at the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida. Spirit Airlines shareholders are approving a $3.8 billion sale of the company to JetBlue Airways. Spirit announced the results on Oct. 19, 2022.
JetBlue issued a statement calling the vote “a major milestone in our plan to join with Spirit to create a high-quality, low-fare national challenger to the Big Four airlines” — a reference to American, United, Delta and Southwest. JetBlue vowed to work through the regulatory process. The Justice Department is currently fighting to kill a partnership in New York and Boston between JetBlue and American, which the airlines call the Northeast alliance or NEA. Department lawyers say the alliance is anti-competitive and will drive up prices for consumers. A trial that began last month in federal court in Boston resumes Monday.
JetBlue argues the alliance with American should be allowed because it’s not a merger. The acquisition of Spirit, however, would merge two airlines.JetBlue CEO Robin Hayes has said he is confident of winning regulatory approval to buy Spirit. The airlines hope to close the sale in the first half of 2024.
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