Monday, November 28, 2022
HomeBusiness TravelSpirit Airways shareholders vote in favour of Jetblue merger – Enterprise Traveller

Spirit Airways shareholders vote in favour of Jetblue merger – Enterprise Traveller



Spirit Airways has introduced that its stockholders have authorized the merger settlement with Jetblue.

Jetblue introduced its plans to buy Florida-based service Spirit for US$3.8 billion in July, aiming to create America’s fifth-largest airline.

Spirit acknowledged in a launch:

“Based mostly on the preliminary voting outcomes offered by the unbiased inspector of election on the particular assembly of stockholders held in the present day, greater than 50% of the excellent shares of Spirit widespread inventory voted in favour of the transaction.”

The completion of the transaction, which is topic to regulatory approval, is anticipated “no later than the primary half of 2024”.

Jetblue goals to create a “nationwide low-fare challenger” to the US airline trade’s dominant ‘Massive 4’: American, United, Delta and Southwest Airways.

Spirit had beforehand terminated a US$2.9 billion deal to merge with fellow US low-cost service Frontier.

Ted Christie, President and CEO of Spirit Airways, commented on the vote:

“This is a vital step ahead on our path to closing a mixture that may create essentially the most compelling nationwide low-fare challenger to the dominant U.S. carriers. We sit up for persevering with our ongoing discussions with regulators as we work towards finishing the transaction and delivering worth to Staff Members, Company and stockholders.”

Discover our extra concerning the plans in our report from July and a subsequent interview with Jetblue’s CEO Robin Hayes:

Jetblue reaches settlement for US$3.8 bn acquisition of Spirit Airways

Interview with Robin Hayes, CEO of Jetblue

jetblue.com ; spirit.com

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments