JetBlue Airways, the New York-based carrier known for its inflight TV lineup, free Wi-Fi and trendy snacks, has made an unsolicited $3.6 billion offer to buy no-frills airline Spirit.
JetBlue said late Tuesday that the proposal is “superior” to the merger deal between Spirit and Frontier announced in February and is the “most attractive opportunity” for Spirit’s shareholders.
The offer could thwart Spirit and Frontier’s well-laid plans to create a budget airline powerhouse that will be able to better compete with American, Delta, United and Southwest airlines.
JetBlue is making a similar pitch about a JetBlue-Spirit combination and says it brings something additional to the table for Spirit passengers: its beloved inflight perks and service.
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“Customers shouldn’t have to choose between a low fare and a great experience, and JetBlue has shown it’s possible to have both,” JetBlue CEO Robin Hayes said in a statement. “The combination of JetBlue and Spirit – coupled with the incredible benefits of our northeast alliance with American Airlines – would be a game-changer in our ability to deliver superior value on a national scale to customers, crewmembers, communities, and shareholders.”
Hayes told JetBlue employees in a memo after the proposed deal was announced that the pairing is not as odd as it might appear.
“We can all agree that Spirit has a very different brand and product than JetBlue, and so at first glance you may not think we’d make a great pair,” Hayes said. “However, when you dig deeper, you’ll realize we could be a perfect match.”
JetBlue said the combined airline, which would be the nation’s fifth-largest based on annual revenue and would take the JetBlue name, would be a stronger competitor in Florida, where both airlines already have a…