JetBlue Jumps In With premium Offer For Spirit

Well, tomorrow is the big day. Who will win the vote from the shareholders?
Oh, let me guess that they will postpone again if the majority is leaning towards the JB purchase rather than the Frontier purchase. Notice below that Frontier moved up their webcast on 2Q earnings to tomorrow from the 28th. Makes you wonder about that move a little.
So, will we get thru a shareholders vote this time?? Or will Spirit's BOD get scared yet again???
 
eolesen said:
Vote never happened. The Frontier bid is done. Over. Forgotten.

www.cnbc.com

Spirit ends merger agreement with Frontier, continues takeover talks with JetBlue

Spirit terminated its merger agreement with Frontier Airlines, months after a rival bid by JetBlue threw the planned tie-up into disarray.
www.cnbc.com www.cnbc.com
Click to expand...
Thanks for the news E. Kinda never saw that coming, but, if ya don't have the votes (by a land slide obviously) you might as well cancel the vote I guess huh?
I'm actually happy, because I believe the Frontier /Spirit combo would have given SWA a better run for their money on ticket prices and competing. JetBlue/Spirit combo not so much IMO. And this route will leave Frontier to go on their own and expand greatly as a ULCC. A JB/Spirit combo will not be a ULCC, not even close as JB is a premium flyer.
So now comes all the drama with the DOT/DOJ and to get to an agreement the gov will approve...
 
Not so sure I'd be popping the Colorado micro-brew just yet.

Frontier still needs pilots and airplanes if they think they're going to grow into whatever gaps Spirit might leave behind.
 
eolesen said:
Not so sure I'd be popping the Colorado micro-brew just yet.

Frontier still needs pilots and airplanes if they think they're going to grow into whatever gaps Spirit might leave behind.
Click to expand...
Yes, they do.
Or maybe SWA could step in with a loan investment and if they don't get thru it SWA could slowly buy them up later as they have always wanted to purchase Frontier from way back when, when the Pilots at Frontier blew it all to pieces.
Or could Frontier look at one of the remaining ULCC's since they are really only looking at Pilots and Aircraft??
 
Kev3188 said:
B6 has agreed to buy NK (subject to approval & all the other usual caveats).
Click to expand...
Yup. Frontier is swiped off the table. And now JB's offer is king, and even increased a little to 3.8 Billion now.
Would be very curious to the concessions that will be asked (given) in order to get the deal done with JB/Spirit.


www.yahoo.com

JetBlue agrees to buy Spirit for $3.8 billion, 'but for now nothing is changing'

JetBlue has agreed to buy Spirit Airlines in a $3.8 billion deal, a day after Spirit and Frontier Airlines agreed to abandon their merger proposal.
www.yahoo.com www.yahoo.com
 
And now comes the wiping out the competition comments. As well as the CEO of Frontier also stating that his company will not overpay for Spirit (I agree). And I also just read where Frontier put 1 million tickets on sale @ $19 bucks? Wow, here comes the butt hurt fare wars to try and bring major pain onto the JB/Spirit merger process.

Edited by me. Fat fingers hit $29 bucks instead of $19 bucks...


www.yahoo.com

‘They’re wiping out the competition’: JetBlue-Spirit merger takes flight

Travelers are speaking out after JetBlue agreed to buy Spirit airlines for $3.8 billion.
www.yahoo.com www.yahoo.com
 
Last edited:
Congrats is in order for JetBlue and all their employees. Job well done on the nego's of a better deal to purchase Spirit Airlines. Now comes the biggest hurdle in getting an approval by the DOJ on blessing the hook up. Concession requests will be interesting.
Fare prices probably will increase a little, but they will be able to keep the big 3 legacies from charging outrageous prices.
Yes, one of the ULCC's will go away but there is now even some newer (a few) new ULCC's coming into the markets now. So don't think it'll change much in that group at all. Only thing that will change is Frontier will now become the King of the ULCC's like Southwest is of the LCC groups.
Combination to be finalized in first half of 2024 they say.


www.yahoo.com

JetBlue and Spirit have agreed to merge. Passengers may enjoy better service on the combined airline, but Spirit's low prices will vanish.

Analysts say the merger will be good for consumers in terms of better onboard service and a larger combined network, but ultra-low fares will be left out.
www.yahoo.com www.yahoo.com
 
The vote is set for next month on the NEW JetBlue/Spirit hook up by the shareholders. Hey Spirit BOD's, you think you could actually get a shareholder vote completed this time? So, in Spirits mind, the 5th time is a charm??
Still will be very interesting in the concessions request by gov to get combo deal done. JB may have to give up slots to allow ULCC's to come in and keep the fares down. Just a guess here...
 
No question about it, JB will definitely improve Spirit's employee attitudes once take over and training is all done. Yes, there is two very different cultures between these two airlines, however, the Spirit employees will have to adjust to the way JB does business and customer service. JB will not allow the way Spirit was conducting CS flow into their way of doing CS.


 
So, a little interesting to read. Note; how much they praise the NEA growing and expansion of flights and routes already enacted. They know that NEA is in big time jeopardy, especially with the most recent news of the JB/Spirit purchase/combo. JB will praise and praise and praise just how great the NEA is doing and how it is benefiting the general public in order to TRY and keep the DOJ/Gov from shutting it all down. It will be a rather large uphill battle, but I still see some rather large concessions asks from the gov for proper approval.


finance.yahoo.com

JetBlue Announces Second Quarter 2022 Results

NEW YORK, August 02, 2022--JetBlue Airways Corporation (NASDAQ: JBLU) today reported its results for the second quarter of 2022:
finance.yahoo.com finance.yahoo.com
 
JetBlue is going to need to do some recovery time for the rest of this year and into 2023. A loss in the 2Q at a time they really need some extra "up front" spending cash. The payment coming due for the shareholders are promised if and when the Spirit BOD agrees to and shareholders vote in favor of a Spirit and JetBlue hook up. Well folks, that all comes this month (so far, Spirit has a history of putting off shareholder votes recently). If paid as promised the upfront payment will take a hit against 3Q earnings and as a whole the entire fiscal year. Not to mention the said cost to purchase Spirit as well as getting all the planes changed over, retrofitted and painted.
Can't say they are not trying though with the latest fare sales being offered for the fall travel season (first time for JB)


 
So here comes the vote for the JB purchase of Spirit. How many tries will it take Spirit this time? Oct 19th, if all goes well the shareholders will get a payment sent out to them if it passes.
There is willingness to concede some flights, but only where JB and Spirit overlap says JB. Nothing said about the NEA hook up with AA still. Pretty sure they will get an eye opener soon from the DOJ...


www.yahoo.com

Spirit Airlines sets shareholder vote on sale to JetBlue

Spirit Airlines has scheduled a shareholder vote on JetBlue's proposed $3.7 billion acquisition of Spirit for Oct. 19. Spirit's board approved a sale to JetBlue on July 28. Spirit leaders preferred a merger with Frontier Airlines, but that stock-and-cash deal, worth far less, failed to gain...
www.yahoo.com www.yahoo.com

I also ran across this article on the JetBlue/Spirit purchase and noticed it was dated for October 2022 not September 2022. Typo? More than likely. Or maybe they were trying to indicate an October vote will take place. Never sweat the little things.


 
So, a couple of weeks prior to the Oct 19th vote some proxy advisory firms seem to have flipped the switch. Now they are encouraging a vote FOR the merger between JB/Spirit. I remember when they were against the JB/Spirit hook up and in favor of the Spirit/Frontier hook up. Now they are about voting for the JB/Spirit hook up. How quickly they have changed their minds.
Also not waiting for the results of the suit against AA/JB Alliance (NEA) but, they more than likely don't care if it goes one way or the other OR if they will simply have to give up some concessions in order to merge together...


finance.yahoo.com

Spirit Airlines Announces ISS and Glass Lewis Recommendations that Stockholders Vote FOR the Proposed Merger with JetBlue

MIRAMAR, Fla., October 06, 2022--Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today announced that leading independent proxy advisory firms Institutional Shareholder Services ("ISS") and Glass, Lewis & Co. ("Glass Lewis") have recommended that Spirit stockholders vote FOR the...
finance.yahoo.com finance.yahoo.com
 
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