Connect with us

Business

JetBlue Agrees to Buy Spirit for $3.8 Billion

Published

4 years ago

on

FILE - A Spirit Airlines jet approaches Philadelphia International Airport in Philadelphia, Pa., on Wednesday, Feb. 24, 2021. Spirit announced on Thursday, July 7, 2022, that it would again postpone a vote on the proposed merger with Frontier, a sign that it lacks shareholder support for the merger in the face of a rival bid by JetBlue Airways. Spirit delayed the vote by a week, until July 15. (AP Photo/Matt Rourke, File)

NEW YORK, N.Y. (AP) — JetBlue has agreed to buy Spirit Airlines for $3.8 billion in a deal that would create the nation’s fifth largest airline if approved by U.S. regulators.

The agreement Thursday comes a day after Spirit’s attempt to merge with Frontier Airlines fell apart. Spirit had recommended its shareholders approve a lower offer from Frontier, saying that antitrust regulators are more likely to reject the bid from JetBlue.

“This combination is an exciting opportunity to diversify and expand our network, add jobs and new possibilities for crewmembers, and expand our platform for profitable growth.” JetBlue CEO Robin Hayes said in a statement.

The combined airline, which will be based in New York and led by Hayes, would have a fleet of 458 aircraft. The airlines will continue to operate independently until after the transaction closes.

JetBlue said Thursday that it would pay $33.50 per share in cash for Spirit, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve the transaction. There’s also a ticking fee of 10 cents per month starting in January 2023 through closing.

If the transaction is completed before December 2023, the deal will be for $33.50 per share, increasing over time to up to $34.15 per share, in the event the transaction closes at the outside date in July 2024.

If the deal doesn’t close due to antitrust reasons, JetBlue will pay Spirit a reverse break-up fee of $70 million and stockholders of Spirit a reverse break-up fee of $400 million less any amounts paid to stockholders of Spirit prior to termination.

News of the JetBlue and Spirit combination comes after weeks of Frontier and JetBlue tussling over who would ultimately get to add the budget airline to its arsenal. While Spirit initially struck a deal with Frontier and had stood by that proposed agreement, its shareholders were not on board. The decision by Spirit and Frontier to terminate their deal was announced Wednesday while Spirit shareholders were still voting on the proposal. It was apparent that despite the support of Spirit’s board, shareholders were prepared to reject the deal and seek a richer one from JetBlue.

JetBlue anticipates $600 million to $700 million in annual savings once the transaction is complete. Annual revenue for the combined company is anticipated to be about $11.9 billion, based on 2019 revenues.

JetBlue and Spirit will continue to operate independently until after the transaction closes. Their respective loyalty programs remain unchanged and customer accounts will not be affected in any way.

The deal still needs the required regulatory approvals and approval from Spirit’s stockholders. The companies expect to conclude the regulatory process and close the transaction no later than the first half of 2024.

Spirit’s stock rose more than 4% before the market open, while shares of JetBlue were up slightly.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

PR Veteran Dina Allende Closes Boutique Agency After 25 Years, Joins United Way Miami

Published

1 month ago

on

March 2, 2026

By

MIAMI, Fla. (FNN) — After 25 years leading her own boutique public relations firm, veteran communications strategist Dina Allende has announced the closure of Clique PR and her transition to a full-time leadership role with United Way Miami.

Allende now serves as Associate Director of Communications at United Way Miami, joining the organization as it continues its century-long mission supporting Miami-Dade County through initiatives focused on education, health and financial stability.

Clique PR was founded in the months following the Sept. 11, 2001, terrorist attacks — a period Allende described as both uncertain and transformative. The firm grew into a respected boutique agency representing clients across arts, entertainment, tourism and international business sectors.

Before launching her agency, Allende built her communications foundation with respected institutions including WPBT, Walt Disney World and Doral Golf Resort & Spa.

Through Clique PR, she represented high-profile events and organizations such as the Miami International Boat Show, Coconut Grove Arts Festival, Miami International Film Festival, the Latin America and Caribbean Air Transport Association, and INCAE during a Central American Presidential Summit where she saw Barack Obama in person.

Additional clients included Regulator Marine, Loud And Live and Sonesta Resorts in South Florida. She also collaborated on signature cultural events including Grovetoberfest, Wynwood Life and House of Horror Haunted Carnaval.

Among the most memorable milestones in her career, Allende handled publicity for 14th Dalai Lama, receiving a personal blessing she describes as unforgettable. She also worked alongside Miami New Drama Artistic Director Michel Hausmann and Pulitzer Prize-winning playwright Nilo Cruz to help expand the reach of theatrical storytelling in South Florida.

Allende said the most meaningful part of her 25-year career has been the professional relationships and friendships built along the way.

“Closing Clique PR is not a step away from purpose. It is a step toward a deeper commitment to it,” Allende said.

United Way Miami, which recently marked 100 years of service, focuses on strengthening the community through strategic investments that expand educational opportunities, improve health outcomes and promote financial stability for families.

“United Way Miami’s mission aligns fully with what has always driven me — connecting people, elevating stories and helping meaningful work reach the audiences it deserves,” she said.

Allende expressed gratitude to the colleagues, journalists, collaborators and clients who supported her throughout her career, saying her next chapter is built on the foundation created over the past quarter century.

“This next chapter is possible because of all we have built together,” she said.

Continue Reading

Business

2026 PGA Show Takes Over Orange County Convention Center

Published

3 months ago

on

January 23, 2026

By

ORLANDO, Fla. (FNN SPORTS) — Florida National News is on site all week covering the 2026 PGA Show as it takes over the Orange County Convention Center, transforming Orlando into the global epicenter of the golf industry.

The annual event draws thousands of industry professionals, athletes, media, and golf enthusiasts from around the world to preview the latest innovations shaping the future of the sport.

Global Golf Industry Converges in Orlando

The PGA Show brings together exhibitors and attendees from across the globe, showcasing cutting-edge golf equipment, apparel, technology, and services. From club manufacturers and gear designers to course operators and teaching professionals, the show serves as a central meeting point for every sector of the golf world.

Attetion, Technology, and Interactive Experiences

This year’s PGA Show features immersive activations, including state-of-the-art golf simulators, interactive training tools, and expanded indoor and outdoor driving range experiences. Technology continues to play a major role, with advancements in swing analytics, performance tracking, and course management on full display.

The show floor also highlights sustainability efforts and innovations aimed at growing the game for future generations.

Florida National News Provides Front-Row Coverage

Florida National News will deliver comprehensive coverage throughout the week, offering exclusive behind-the-scenes access, exhibitor highlights, and firsthand looks at the products and experiences defining the next era of golf.

Readers can follow along for daily updates, photos, and feature stories straight from the heart of the PGA Show

________________________________________________________

– Todd Grasley and J Willie David, III contribute to this report.
News@FloridaNationalNews.com

Continue Reading

Business

2025 Don Quijote Awards Program: A Keepsake for Event Attendees

Published

4 months ago

on

December 22, 2025

By

Florida National News Vice President Jenny Rosario showcase a ads inside of the 2025 Don Quijote Awards Program Booklet

ORLANDO, Fla. (FNN) – Inside the official event program booklet, attendees will find the powerful presence of premier media partner Florida National News, whose coverage team of reporters, photographers, videographers and social media journalists captures the very best of the annual awards gala.

From high-fashion red carpet arrivals and VIP guests to cocktail networking, exquisite dining, live musical performances, dynamic emcees, presenters, sponsors, finalists, honorees and winners—Florida National News amplifies every unforgettable moment of the prestigious 2025 Don Quijote Awards Gala.

Hosted by the Hispanic Chamber of Metro Orlando and Prospera, and powered by Diamond Sponsor Disney along with numerous supporting sponsors, the gala takes place at EPCOT’s World ShowPlace Pavilion. Through comprehensive, high-impact coverage, Florida National News elevates the awards gala experience—before, during and long after the final applause.

_____________________________________________________________________________________________________

J Willie David, III and Jenny Rosario | Corporate Partners and Events | Florida National News
– News@FloridaNationalNews.com

Continue Reading
Advertisement
Advertisement Ticket Time Machine ad
Advertisement Orlando Regional REALTOR Association logo
Advertisement Parts Pass App
Advertisement Hispanic Chamber of Commerce of Metro Orlando
Advertisement
Advertisement African American Chamber of Commerce of Central Florida
Advertisement FNN News en Español
Advertisement Indian American Chamber of Commerce logo
Advertisement Florida Sports Channel

FNN Newsletter

Trending