Why Is JetBlue Hellbent on Buying Spirit?

Why flying Spirit is about to go from BAD to WORSE (companion video):    • Flying Spirit is about to go from BAD...  

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Sources:
1. https://fortune.com/2022/04/08/spirit...
2. https://www.reuters.com/business/aero...
3. https://thepointsguy.com/news/spirit-...
4. https://www.cnbc.com/2022/06/14/spiri...
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20. https://www.wsj.com/articles/united-f...
21. https://www.usatoday.com/story/travel...

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Three months ago, JetBlue made a strange announcement: they wanted to buy Spirit Airlines for $3.6 billion. This offer seemed odd for a few reasons. For one, JetBlue and Spirit could not be more dissimilar. What’s more, JetBlue’s bid was well above market rate - with Frontier offering $2.9 billion just a few weeks prior.

Now Spirit rejected JetBlue’s bid in favor of Frontier’s; Spirit saw Frontier as a better long-term partner despite its lower offer. But JetBlue wouldn’t take no for an answer. And just days before the Frontier/Spirit marriage was scheduled to be announced, JetBlue upped its bid by an additional $200 million, bringing Spirit back to the table.

What exactly is going on here - why is JetBlue hellbent on buying an airline that is its polar opposite in nearly every way? And more importantly, why are they willing to spend such a premium to do so? Let me explain…

#JetBlue #Spirit #Frontier