Spirit Shareholders to decide on JetBlue takeover next month

Saturday, 13 Sep, 2022 0

Spirit Airlines’ shareholders will finally get to vote on the airline’s future on 19 October

Spirit named the date in a filing with the US Securities and Exchange Commission.

Approved by Spirit’s board, shareholders will vote on whether to accept the deal for New York-based JetBlue to buy Spirit.

If approved, it would bring to an end a long saga which saw it cancel four shareholder meetings due to competing offers by JetBlue and Frontier Airlines.

Spirit’s board had from the outset supported a merger with Frontier Airlines but it couldn’t sway shareholders.

Even with shareholder approval, it is not a done deal.

Federal antitrust regulators are expected to look very closely at it, as it will create the fifth-largest airline in the US.

Spirit’s support of Frontier was due what it saw as an easier path to regulatory approval.

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Ray Monty

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