The addition of Spirit's fleet will result in JetBluehaving around 450 aircraft and 7,000 pilots, making it the fifth largest airline in the U.S., behind American, United, Delta and Southwest.
Taken from EFE
Shareholders of Miramar, Florida-based Spirit Airlines approved JetBlue's $3.8 billion takeover bid on Wednesday, a transaction that will create the fifth-largest airline in the United States.
According to a statement released by Spirit, preliminary voting results show that more than 50% of shareholders approved the sale to JetBlue, which had previously prevailed over Frontier Airlines, which was also bidding for the Florida-based company.
"This is an important step on our path toward closing a combination that will create the most compelling domestic low-fare challenger to the dominant U.S. airlines," said Spirit Airlines President Ted Christie.
The completion of the transaction is subject to customary closing conditions, including approval from federal authorities; however, "Spirit and JetBlue expect to complete the regulatory process and close the transaction no later than the first half of 2024," according to the statement.
The merger of Spirit with JetBlue must now pass through the filter of US antitrust regulators, who, according to specialized media, do not look favorably upon the operation due to the effect it may have on consumers.
The airlines announced on June 28 that JetBlue would pay $33.50 per share of Spirit Airlines, including an advance payment of $2.50 per share in cash payable once the shareholders of the latter company approve the transaction.
The addition of Spirit's fleet will result in JetBluehaving around 450 aircraft and 7,000 pilots, making it the fifth largest airline in the U.S., behind American, United, Delta and Southwest.
Spirit started as a charter flight operator and is now a low-cost airline.
