Spirit Airlines provides update on JetBlue merger agreement

The company said, “On October 19, 2022, Spirit (SAVE) stockholders voted to approve the Agreement and Plan of Merger (the “Merger Agreement”), among Spirit, JetBlue Airways Corporation (JBLU) and Sundown Acquisition Corp., a direct, wholly owned subsidiary of JetBlue, which was entered into on July 28, 2022. The completion of the transaction is subject to customary closing conditions, including receipt of required regulatory approvals. Spirit and JetBlue expect to conclude the regulatory process and close the transaction no later than the first half of 2024. On March 7, 2023, the U.S. Justice Department filed suit to block the merger. The trial for the lawsuit began on October 31, 2023 in the U.S. District Court for the District of Massachusetts (the “Court”) and concluded on December 5, 2023. On January 16, 2024, the Court granted a injunction against the Merger (the “Injunction”). On January 19, 2024, Spirit and JetBlue filed a notice of appeal and to reverse the Injunction and allow Spirit and JetBlue to complete the Merger. On February 2, 2024, the Court of Appeals granted our motion, stating it would hear arguments in June 2024.”