Spirit and Frontier end merger bid, paving the way for a JetBlue deal
Spirit Airlines and Frontier Airlines agreed Wednesday to abandon their merger proposal, opening the way for JetBlue Airways to acquire Spirit after a months-long bidding war for the budget carrier.
“Rather than overpay for Spirit, the board prioritized the interests of Frontier, our employees and our shareholders,” Biffle said on a call to discuss second-quarter earnings. Some analysts said that the small size of Frontier and Spirit would have earned them a pass from antitrust regulators in previous administrations, but not any more. Still, a JetBlue deal does appear more problematic, in part because the Justice Department is already suing to break up a regional partnership in the Northeast between JetBlue and American Airlines.
Frontier and Spirit announced their deal on Feb. 7, saying they would create a huge discount airline that would save consumers $1 billion a year in airfares by creating a powerful new competitor to American, United, Delta and Southwest. JetBlue saw acquiring Spirit as the best way to quickly add planes and pilots and break out of the second tier of U.S. airlines.
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