Factbox: JetBlue, Frontier in High-Stakes Battle for Spirit Airlines
JetBlue Airways and Frontier Group are in a tug of war for low-cost carrier Spirit Airlines, as U.S. airlines jostle for a larger share of the rebounding leisure travel market to better compete with legacy carriers, Reuters reported.
JetBlue made an unsolicited offer of $33 per share in cash, surpassing a near $25 per share cash-and-stock bid from Frontier made in February, prompting Spirit to open talks with the New York-based airline.
→ Jetblue Announces Direct Flights Between Boston and London.
Here is a brief look into the companies at the heart of the latest consolidation in the U.S. airline industry:
Spirit Airlines
Spirit Airlines was founded in 1964 as Clippert Trucking Co. It operates in more than 85 destinations across 16 countries, including the United States, Latin America and the Caribbean.
Headquarters: Miramar, Florida
Fleet: Operated 173 aircraft as of Dec. 31, 2021
Fleet type: Airbus (A319, A320ceo, A320neo, A321)
Revenue: $3.23 billion for year ended 2021
Market Cap: $2.85 billion, according to Refinitiv data
Routes: 360 markets served by 85 airports
Employees: 9,823 active employees as of Dec 31, 2021
JetBlue Airways Corp
The airline was incorporated in August 1998.
Headquarters: Long Island City, New York
Fleet: Operated 282 aircraft as of Dec. 31, 2021
Fleet type: Airbus A220, Airbus A320, Airbus A321, Airbus A321neo, and Embraer E190
Revenue: $6.04 billion for year ended 2021
Market Cap: $3.82 billion, according to Refinitiv data
Routes: Over 100 destinations across the United States, the Caribbean and Latin America, and between New York and London
Employees: Employed an average of 15,452 full-time and 4,014 part-time crew members for the year ended Dec. 31, 2021
Frontier Group Holdings
Frontier Group, operating as Frontier Airlines, was incorporated in September 2013 by ultra-low-cost airline pioneer Bill Franke. The carrier flies Airbus aircraft across the United States and some international destinations.
Headquarters: Denver, Colorado
Fleet: Operated 110 aircraft as of Dec 31, 2021
Fleet type: Airbus single-aisle aircraft; A320ceos, A320neos , A321ceos
Revenue: $2.06 billion for year ended 2021
Market Cap: $2.33 billion, according to Refinitiv data
Routes: U.S., Mexico, Puerto Rico, Jamaica, Guatemala, El Salvador, Dominican Republic, and Canada
Employees: 5,502 total employees, as of Dec 31, 2021
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