Press release
JetBlue and Frontier Announce Divestiture Agreement in Connection with JetBlue’s Combination with Spirit
Includes all of Spirit’s Holdings at New York’s LaGuardia Airport and Related Takeoff and Landing Slots Will Ensure Continued Availability of Ultra-Low-Cost
About this update from Jetblue Airways Corporation
[{"type":"text","content":"\nIncludes all of Spirit’s Holdings at New York’s LaGuardia Airport and Related Takeoff and Landing Slots\n\n\nWill Ensure Continued Availability of Ultra-Low-Cost Options at LaGuardia\n\n\n NEW YORK & DENVER--(BUSINESS WIRE)--\nJetBlue Airways Corporation (NASDAQ: JBLU) and Frontier Group Holdings, Inc. (NASDAQ: ULCC) today announced that the airlines have entered into a definitive agreement under which JetBlue will divest all of the holdings of Spirit Airlines, Inc. (NYSE: SAVE) at New York’s LaGuardia Airport to Frontier in connection with JetBlue’s planned merger with Spirit. These divestitures are part of JetBlue’s upfront commitments included in the merger agreement with Spirit and are conditioned on the closing of the JetBlue-Spirit transaction.\n\n\n“We are committed to ensuring our combination with Spirit preserves ultra low-cost carrier access in New York,” said Robin Hayes, chief executive officer, JetBlue. “We are pleased that this agreement with Frontier will maintain the same level of ultra low-cost carrier service at LaGuardia Airport.”\n\n\n“We’re pleased to have reached this agreement to acquire Spirit’s slot pairs and leasehold interests at New York’s LaGuardia Airport, pending regulatory approval of the JetBlue-Spirit merger,” said Barry Biffle, President and CEO, Frontier Airlines. “It will enable us to significantly expand our operations at LaGuardia and deliver even more ‘Low Fares Done Right’ to consumers in the greater New York City area.”\n\n\nUnder the terms of the agreement, JetBlue has agreed to transfer to Frontier all of Spirit’s holdings at LaGuardia, principally consisting of six gates at the Marine Air Terminal and 22 takeoff and landing slots. The divestitures are conditioned upon, and will occur after the closing of, JetBlue’s planned combination with Spirit and are subject to additional closing conditions, including approval by the Port Authority of New York and New Jersey and the FAA/DOT.\n\n\nJetBlue expects to close the transaction with Spirit in the first half of 2024.\n\n\nAbout JetBlue\n\n\nJetBlue is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan. JetBlue carries customers to more than 100 destinations throughout the United States, Latin America, Caribbean, Canada, and United Kingdom. For more information and ...