TELETRADER News
6/29, 9:50 PM (Source: TeleTrader)
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JetBlue urges Spirit to look at the 'reality' of its offer

JetBlue Airways released a communique on Wednesday urging Spirit Airlines Inc's shareholders "to look right past" the "smokescreen to the reality" of its offer.

In the statement, the firm stresses that independent analysts have assessed the facts beyond Spirit's claims and recognize that both the JetBlue and Frontier deals have similar "risk profiles and regulatory clearance pathways." However, "the ultra-low-cost carrier space will remain very robust and competitive with a JetBlue-Spirit combination."

JetBlue's claims come after Frontier proposes extra cash to Spirit and a higher breakup fee in case regulators block the intended merger. Meanwhile, Spirit stated days ago that the board had decided Frontier's new bid is better than the one from JetBlue.

Baha Breaking News (BBN) / JG