Deals
JetBlue Bid for Spirit Is Driven by Hunger for a ‘Stealth’ Asset: Plane Orders
- ‘Supply of airplanes is very challenging,’ JetBlue CEO says
- Retrofitting Spirit’s Airbus jets presents cost concerns
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Spirit Airlines Inc. has what one analyst calls a “stealth” asset, the opportunity for JetBlue Airways Corp. to grab scarce aircraft if its $3.6 billion offer goes through.
A lack of future production slots for Airbus SE jets could limit growth at a stand-alone JetBlue, Chief Executive Officer Robin Hayes said Wednesday, a day after his carrier’s bid was announced. JetBlue’s offer is based on growing large enough to be an effective competitor to the four biggest U.S. carriers, which control about 80% of the domestic market.