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JetBlue announces deal to buy Spirit Airlines

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Published 7:19 AM

(KYMA, KECY/CNN) - In an announcement Thursday, if approved by U.S. regulators, the merger of the two largest ultra-low-cost carriers in the United States would create America's fifth-largest airline.

The announcement came a day after Spirit rejected a deal to merge with Frontier.

JetBlue had been pursuing a hostile bid for Spirit as Spirit sought a shareholder approval for a lower-priced deal with Frontier.

Spirit had continually expressed concern whether regulators would approve a JetBlue deal, but shareholders rejected Frontier's less-valuable cash-and-stock offer and green-lighted JetBlue's all-cash offer.

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Cole Johnson

Cole Johnson is News 11’s Sports Director.

Contact Cole at cole.johnson@kecytv.com.

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