Oct 19, 2022 - Economy

Spirit stockholders approve JetBlue merger

A Spirit Airlines plane lands at Oakland International Airport on July 28, 2022 in Oakland, California

A Spirit Airlines plane lands in Oakland, California. Photo: Justin Sullivan/Getty Images

Spirit Airlines announced Wednesday that its stockholders approved a merger with JetBlue Airways.

Why it matters: The merger, which comes on the heels of Spirit's failed merger with budget airline Frontier, will create the country's fifth-largest airline.

What they're saying: "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," said Ted Christie, president and CEO of Spirit Airlines, in a statement.

Details: Spirit said the deal will close "no later than the first half of 2024."

  • The new combined airline will have 458 aircraft in its fleet and will be based in Florida, according to a fact sheet on the merger.

Flashback: JetBlue launched a takeover bid for Spirit Airlines after the latter airline announced its Frontier deal had collapsed.

The big picture: As Axios' Dan Primack noted, it's unclear if the country's antitrust regulators will allow this deal to go through.

Go deeper: Spirit-JetBlue merger takes flight after Frontier deal terminated

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