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JetBlue makes offer for Spirit Airlines, could spark bidding war
2022-04-05 00:00:00.0     洛杉矶时报-商业     原网页

       

       JetBlue Airways has offered to buy Spirit Airlines for about $3.6 billion and break up a plan for Spirit to merge with rival budget carrier Frontier Airlines.

       Spirit said Tuesday that its board will evaluate the JetBlue bid and decide what’s best for its shareholders.

       Business

       Frontier Airlines buys Spirit for $2.9 billion in merger of low-cost carriers

       Frontier Airlines’ parent company is buying Spirit Airlines in a $2.9-billion deal to increase the airlines’ competitiveness against larger rivals.

       JetBlue offered $33 a share in cash, which would be about 40% higher than Frontier would pay for Spirit under terms of a deal announced in February. Frontier’s offer in cash and stock was worth $2.9 billion when it was announced, but Frontier’s shares have fallen since then, reducing the value of the deal to Spirit shareholders.

       Shares of Florida-based Spirit soared 22% after the New York Times first reported the JetBlue bid Tuesday.

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       In a statement, New York-based JetBlue said combining with Spirit would lead to lower fares by creating “the most compelling national low-fare challenger” to the nation’s four biggest airlines: American, Delta, United and Southwest.

       Denver-based Frontier used that same argument to support its acquisition of Spirit.

       A Frontier-Spirit tie-up would combine Frontier’s route map in the western United States with Spirit’s network along the East Coast and the Caribbean. Both are discount airlines that offer rock-bottom fares and make up some of the difference by charging extra for many things that bigger airlines include in the ticket price, including carry-on bags and soft drinks.

       JetBlue is not the same kind of so-called ultra-low-cost-carrier, and its base fares are often slightly higher than Frontier and Spirit. JetBlue’s strength on the East Coast, including Florida, would mean much more overlap with Spirit.

       Moreover, Frontier and Spirit are small enough that their deal might not get close scrutiny from antitrust regulators. Those same regulators already weighed in last year to try to block a much more limited partnership between JetBlue and American Airlines — that challenge is pending.

       One area in which all three are similar: consumer complaints. Spirit had the highest rate of complaints to the U.S. Transportation Department last year, followed by JetBlue and Frontier.

       California

       After Times investigation, Congress is moving to curb toxic fumes on airplanes

       A Times investigation found that dangerous vapors contaminate the air supply on planes, sickening passengers and crew and incapacitating pilots.

       


标签:综合
关键词: shareholders     Times     Spirit Airlines     JetBlue     regulators     fares     Frontier Airlines    
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