In Travel News for July 13, 2022 covering the @spiritairlines – @flyfrontiervideos – @jetblue merger.
This is a short from the series Today in Travel, watch the full video here:
Spirit Airlines has yet again postponed the shareholder vote on a merger with Frontier Airlines until July 27, this is the fourth time in five weeks the company has rescheduled the vote. Spirt has said that this delay was in response to a letter sent by the CEO of Frontier Airlines. Within the letter the CEO said that Frontier is done bidding against JetBlue, he also shared that according to their calculations Spirit doesn’t have the votes to continue with the merger agreement. Frontier’s current offer is a mix of stock and cash and is about $1 billion dollars less then JetBlues all cash offer. Even though JetBlues offer is financially superior Spirit choose to reject it over regulatory concerns pertaining to a Department of Justice investigation into the JetBlue and American Airlines ‘Northeast Alliance’.
#TravelNews #SpiritAirlines #JetBlue #FronterAirlines #AirlineMerger #AirlineNews
The post Travel News Short: Spirit Airlines/Frontier Airlines/JetBlue Merger Drama first appeared on Miami In News.