Florida AG reports resolution with JetBlue over Spirit deal

Florida Attorney General Ashely Moody said that the state is "securing thousands of new jobs for Floridians and dramatically increasing the number of flights to and from Florida Cities" to resolve concerns raised by the proposed multibillion dollar merger between JetBlue Airways Corporation (JBLU) and Spirit Airlines (SAVE). Attorney General Ashley Moody said, "I am proud to take action to bring thousands of airline jobs to Florida communities, while also ensuring that Florida will see an unprecedented increase in affordable flights and airline capacity to support our growing economy." Following the completed merger between JetBlue and Spirit, the merged company must increase its seat capacity by at least 50% in both Fort Lauderdale and Orlando and must also increase its aggregate seat capacity at all other Florida airports in which JetBlue or Spirit currently operate by at least 50%. Additionally, Attorney General Moody secured employment commitments from JetBlue that will bring at least 1,000 new jobs to South Florida, at least 500 new jobs to the Orlando region, and at least 500 new jobs to support JetBlue’s expanded operations at airports throughout Florida. JetBlue will extend its "no furlough" policy for Florida employees by five years and will provide increased compensation to former Spirit employees. The merged company will also maintain all Florida facilities currently in use by either JetBlue or Spirit, including Spirit’s planned future headquarters in Dania Beach, at their current or planned employment levels or greater for at least five years following the merger. Reference Link