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JetBlue set to buy Spirit for $3.8 billion

JetBlue set to buy Spirit for $3.8 billion
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JetBlue is a major American low-cost airline, founded in 1998, and is headquartered in Long Island City, New York. Spirit Airlines is another major American ultra-low-cost airline, founded in 1983, and headquartered in Miramar, Florida.

This Wednesday, Spirit and Frontier ended their merger and JetBlue is all set to buy Spirit airlines now in a $3.8 billion deal. This merger will create together the country’s 5th largest airline and will remove the fast-growing budget carrier from the markets. The deal is expected to close by the beginning of 2024.

Impact-

Both the airlines combined would have 458 aircraft, though the airlines would operate individually until the transaction is final. This deal will create the 5th largest airline in the country. JetBlue’s CEO says that Spirit planes would be converted to JetBlue’s configuration. After the deal gets final, the carline would be based in New York and would be led by Robin Hayes (CEO of JetBlue)

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