JetBlue urges Spirit shareholders to ‘vote no’ on Frontier transaction


JetBlue has filed a “Vote No” proxy statement urging Spirit shareholders to vote against the inferior, high-risk and low-value Spirit/Frontier transaction at Spirit’s upcoming special meeting.

In addition, JetBlue commenced an all-cash, fully financed tender offer to acquire all of the outstanding shares of Spirit for US$30 per share, without interest and less any required withholding taxes. Given the Spirit Board of Directors’ complete unwillingness to share the same necessary diligence information that was shared with Frontier, JetBlue is now offering to acquire Spirit for US$30 per share in cash through a fully financed tender offer. This represents a 60% premium to the value of the Frontier transaction as of May 13, 2022 – a very compelling offer and higher than the premium implied by JetBlue’s original proposal. JetBlue is fully prepared to negotiate in good faith a consensual transaction at US$33, subject to receiving necessary diligence.

JetBlue launched a website at and issued a letter to Spirit shareholders detailing the benefits of its transaction and the certainty of closing. (£1.00 = US$1.25 at time of publication).

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