Spirit (SAVE) Announces Stockholder Approval Of Merger Agreement With JetBlue (JBLU)

By Amit Chowdhry ● Oct 19, 2022
  • Spirit Airlines (SAVE) announced that its stockholders approved the merger agreement with JetBlue Airways (JBLU). These are the details.

Spirit Airlines (SAVE) announced that its stockholders approved the merger agreement with JetBlue Airways (JBLU). And based on the preliminary voting results provided by the independent inspector of election at the special meeting of stockholders held today, more than 50% of the outstanding shares of Spirit common stock voted in favor of the transaction. 

The completion of the deal is subject to customary closing conditions, including receipt of required regulatory approvals. And Spirit and JetBlue expect to conclude the regulatory process and close the transaction no later than the first half of 2024.

KEY QUOTE:

“This is an important step forward on our path to closing a combination that will create the most compelling national low-fare challenger to the dominant U.S. carriers. We look forward to continuing our ongoing discussions with regulators as we work toward completing the transaction and delivering value to Team Members, Guests, and stockholders.”

— Ted Christie, President and CEO of Spirit Airlines