JetBlue Airways has agreed to buy Spirit Airlines for $3.8 billion and create the nation's fifth-largest airline if the deal wins approval from antitrust regulators.
has agreed to buy Spirit Airlines for $3.8 billion and create the nation's fifth-largest airline if the deal can win approval from antitrust regulators.
JetBlue's case for regulatory approval rests on two main arguments: That its size makes it better positioned to force bigger airlines to reduce fares; and that it has already volunteered to give up Spirit gates and takeoff and landing slots at key airports in New York, Boston and Florida. Hayes said Spirit planes will be converted to JetBlue's configuration, which allows for more legroom and means there will be fewer seats for sale on each flight. He said JetBlue will increase the pay of Spirit employees.
Spirit and similar rivals Frontier and Allegiant charge rock-bottom fares that appeal to the most budget-conscious leisure travelers, although they tack on more fees that can raise the cost of flying.
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