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JetBlue Offers $3.6 Billion for Spirit, Disrupting Rival Bid

  • Potential deal would reshape budget travel landscape
  • Spirit Air earlier agreed to be acquired by Frontier Group
Bloomberg business news
JetBlue Makes $3.6B Offer for Spirit Airlines: NY Times
Updated on

JetBlue Airways Corp. offered to buy budget carrier Spirit Airlines Inc. for $3.6 billion, potentially spoiling a competing bid by rival Frontier Group Holdings Inc. and reshaping the landscape for ultra-low-cost air travel.

Spirit said Tuesday it received an unsolicited proposal from JetBlue to buy outstanding shares for $33 apiece in cash. Spirit will work with financial and legal advisers to evaluate the offer, according to a statement.