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JetBlue raises offer again in bidding for Spirit Airlines

JetBlue Spirit
Posted at 6:13 AM, Jun 21, 2022

JetBlue is boosting its offer to buy Spirit Airlines, raising the stakes again in the bidding war over the nation’s biggest budget airline.

JetBlue said Monday that it offered $33.50 per share, or $2 per share more than its last bid two weeks ago. JetBlue is trying to outbid Frontier Airlines, which struck a deal to buy Spirit back in February.

Shareholders of Florida-based Spirit are scheduled to vote on the Frontier bid next week. JetBlue is trying to convince investors to kill the Frontier offer and drive Spirit into JetBlue's arms.