JetBlue: termination of merger agreement with Spirit

(CercleFinance.com) - JetBlue has announced that it has reached an agreement with Spirit Airlines to terminate their merger agreement announced in July 2022.


JetBlue and Spirit believe that it is unlikely that the required closing conditions, including obtaining the necessary legal and regulatory approvals, will be met by the merger. the closing date of the agreement is July 24, 2024.

' Given the remaining hurdles to closing, we decided together that the interests of both airlines would be best served by moving forward independently ' said Joanna Geraghty, CEO of JetBlue.

Under the terms of the agreement, JetBlue will pay Spirit $69 million, and the termination will resolve all outstanding issues related to the transaction.

' JetBlue has a strong organic plan and unique competitive advantages, including a well-liked brand, a unique value proposition and high-value geographies, ' said Joanna Geraghty. We have already begun to advance our plan to return to profitability.

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