The agreement Thursday capped a months-long bidding war and arrives one day after Spirit’s attempt to merge with fellow budget carrier Frontier Airlines fell apart.
- JetBlue Airways is buying Spirit Airlines for $3.8 billion in a deal that could increase competition at the top end of the U.S. airline industry while eliminating the largest discount airline for travelers on a tight budget.
“The real issue here though is clearly what can we do in the U.S. to make a more competitive airline industry against the large, big four airlines,” JetBlue CEO Robin Hayes said in an interview. “We believe the most disruptive, the most effective thing that we can do is build a bigger JetBlue more quickly than we otherwise could.”
“I think shareholders are seeing this as a windfall. To be the low-cost carrier in the United States is huge,” said Frontier CEO Barry Biffle, who just spent nearly six months trying to merge his Denver-based airline with Spirit. 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.
Diana Moss, president of the American Antitrust Institute, said competition would be eliminated on dozens of routes along the East Coast where JetBlue and Spirit now compete. She said the elimination of yet another small player “is going to be very harmful for consumers.”“The larger airlines have carved up the nation, and there’s no real competition,” said Charlie Leocha, founder of the non-profit Travelers United group.
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