{"id":502098,"date":"2022-10-19T18:34:04","date_gmt":"2022-10-19T15:34:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/spirit-airlines-shareholders-approve-3-8b-merger-with-jetblue\/"},"modified":"2022-10-19T18:34:04","modified_gmt":"2022-10-19T15:34:04","slug":"spirit-airlines-shareholders-approve-3-8b-merger-with-jetblue","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/spirit-airlines-shareholders-approve-3-8b-merger-with-jetblue\/","title":{"rendered":"#Spirit Airlines shareholders approve $3.8B merger with JetBlue"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3718496b87a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3718496b87a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/spirit-airlines-shareholders-approve-3-8b-merger-with-jetblue\/#%E2%80%9CSpirit_Airlines_shareholders_approve_38B_merger_with_JetBlue%E2%80%9D\" >&#8220;Spirit Airlines shareholders approve $3.8B merger with JetBlue&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSpirit_Airlines_shareholders_approve_38B_merger_with_JetBlue%E2%80%9D\"><\/span>&#8220;Spirit Airlines shareholders approve $3.8B merger with JetBlue&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Spirit Airlines shareholders voted Wednesday to accept a $3.8 billion buyout from JetBlue Airways, but the deal could still face a challenge from federal antitrust regulators.<\/p>\n<p>JetBlue emerged as the winner in a bidding war with Frontier to acquire Spirit, the nation\u2019s biggest budget airline.<\/p>\n<p>Spirit announced the outcome after a brief meeting, which was held online. Spirit said only that the JetBlue deal was supported by a majority of shares voted; it promised an exact count within four business days.<\/p>\n<p>Wall Street widely expected shareholders to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>rove the sale after they forced Spirit to drop a proposed merger with Frontier Airlines in favor of JetBlue\u2019s richer, all-cash offer.<\/p>\n<p>\u201cThis is an important step forward on our path to closing a combination that will create the most compelling national low-fare challenger to the dominant US carriers,\u201d Spirit CEO Ted Christie said after the vote.<\/p>\n<p>JetBlue issued a statement calling the vote \u201ca major milestone in our plan to join with Spirit to create a high-quality, low-fare national challenger to the Big Four airlines\u201d \u2014 a reference to American, United, Delta and Southwest. JetBlue vowed to work through the regulatory process.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>JetBlue is expected to repaint Spirit planes and fold its pilots and other employees into the JetBlue workforce. The deal would make New York-based JetBlue the nation\u2019s fifth-biggest airline with more than 450 planes and about 7,000 pilots and \u2014 it hopes \u2014 help it win customers from the bigger airlines.<\/p>\n<p>However it would also eliminate Spirit, the nation\u2019s biggest budget carrier, and that might not sit well with regulators, who appear to oppose any further consolidation in the airline industry after a round of mergers between 2005 and 2016.<\/p>\n<p>The Justice Department is currently\u00a0fighting to kill a partnership\u00a0in New York and Boston between JetBlue and American, which the airlines call the Northeast alliance or NEA. Department lawyers say the alliance is anti-competitive and will drive up prices for consumers. A trial that began last month in federal court in Boston resumes Monday.<\/p>\n<p>The outcome of the NEA trial could have a huge impact on whether the Justice Department lets JetBlue buy Spirit or sues to block the sale, according to Florian Ederer, an antitrust expert and economics professor at Yale University.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/AMERICAN-AIRLINES-JETBLUE.jpg?w=1024\" alt=\"American Airlines plane\" class=\"wp-image-24316215\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/AMERICAN-AIRLINES-JETBLUE.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/AMERICAN-AIRLINES-JETBLUE.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/AMERICAN-AIRLINES-JETBLUE.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Justice Department is currently fighting to kill a partnership in New York and Boston between JetBlue and American, which the airlines call the Northeast alliance.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>\u201cIf (JetBlue and American) win the case, and the judge thinks the NEA does not harm consumers enough, it\u2019s almost guaranteed that there will be an antitrust challenge to the Spirit acquisition,\u201d Ederer said.<\/p>\n<p>JetBlue argues the alliance with American should be allowed because it\u2019s not a merger. The acquisition of Spirit, however, would merge two airlines.<\/p>\n<p>JetBlue CEO Robin Hayes has said he is confident of winning regulatory approval to buy Spirit. The airlines hope to close the sale in the first half of 2024.<\/p>\n<p>Spirit and Frontier announced their planned merger in February. Both are so-called ultra-low-cost carriers that charge lower fares than other airlines but tack on more fees to make up some of the difference.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/10\/19\/spirit-airlines-shareholders-approve-3-8b-merger-with-jetblue\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Spirit Airlines shareholders approve $3.8B merger with JetBlue&#8221; Spirit Airlines shareholders voted Wednesday to accept a $3.8 billion buyout from JetBlue Airways, but the deal could still face a challenge from federal antitrust regulators. JetBlue emerged as the winner in a bidding war with Frontier to acquire Spirit, the nation\u2019s biggest budget airline. Spirit announced&#8230;<\/p>\n","protected":false},"author":1,"featured_media":502099,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/JetBlue-Spirit-Airlines.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[134296,70908,82494,70584,83204],"class_list":["post-502098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-19-22","tag-airlines","tag-jetblue","tag-mergers-acquisitions","tag-spirit-airlines"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=502098"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/502099"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=502098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=502098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=502098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}