You may recall (if you’re an avid traveler) that just a couple of years back, there was a big hue and cry and a few huzzahs when it was announced that JetBlue (affiliate friends of ours) and Spirit airlines were going to merge into one happy family. It made sense at the time, as both being low-cost carriers and more or less stepping on each other’s toes, market-wise, it just seemed the logical thing to do. Cost savings often leads to lower prices for passengers. However, not too long ago, the whole thing fizzled. So what happened? And what is the fallout? Watch below.
On 3 March, 2024, jetBlue announced that it has reached an agreement with Spirit Airlines (NYSE: SAVE) to terminate their July 2022 merger agreement. jetBlue posted this comment. Although both companies continue to believe in the procompetitive benefits of the combination, JetBlue and Spirit mutually agreed that terminating is the best path forward for both companies as required closing conditions, including receiving necessary legal and regulatory approvals, were unlikely to be met by the merger agreement’s outside date of July 24, 2024.
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