{"id":127830,"date":"2022-06-09T18:30:00","date_gmt":"2022-06-09T18:30:00","guid":{"rendered":"https:\/?p=127830"},"modified":"2022-06-09T21:00:34","modified_gmt":"2022-06-09T21:00:34","slug":"spirit-airlines-delays-shareholder-vote-on-frontier-deal","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2022\/06\/spirit-airlines-delays-shareholder-vote-on-frontier-deal.html","title":{"rendered":"Spirit Airlines delays shareholder vote on Frontier deal"},"content":{"rendered":"\n

Spirit Airlines<\/strong> reported Wednesday that it had postponed a shareholder vote on its sale to Frontier Group Holdings from June 10 to June 30, after JetBlue Airways sweetened a bid for the low-cost carrier.<\/p>\n\n\n\n

Spirit assessed it did not have enough shareholder support in favor of the deal with Frontier, even after the latter enhanced it last week by adding a $250 million regulatory break-up fee, according to people familiar with the matter, Reuters<\/a> reported.<\/p>\n\n\n\n

\u2192 JetBlue submits new improved superior proposal to acquire Spirit.<\/a><\/strong><\/em><\/p>\n\n\n\n

Spirit reiterated on Wednesday that it had not changed its recommendation to shareholders to back the Frontier deal.<\/p>\n\n\n\n

The company received an improved offer from JetBlue on Monday that included an increased $350 million break-up fee which would be payable to Spirit if antitrust reasons stopped the deal.<\/p>\n\n\n\n

Either of the two deals for Spirit would create the fifth-largest U.S. airline. U.S. carriers have been trying to expand their domestic footprint while being dogged by labor and aircraft shortages.<\/p>\n\n\n\n

\u2192 United announces new route between San Francisco and Brisbane.<\/a><\/strong><\/em><\/p>\n\n\n\n

Spirit will now seek to get better offers both from Frontier and JetBlue, the sources said. While JetBlue’s $3.4 billion all-cash offer is higher than Frontier’s, Spirit has said it does not believe regulators will approve a tie-up with JetBlue given the latter’s partnership with American Airlines Group.<\/p>\n\n\n\n

“The special meeting was postponed to allow the Spirit Board of Directors to continue discussions with Spirit stockholders, Frontier and JetBlue Airways,” the low-cost airline said in a statement.<\/p>\n\n\n\n

JetBlue said it welcomed Spirit’s move “as a necessary first step toward genuine negotiation”.<\/p>\n\n\n\n

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Aviaci\u00f3n al D\u00eda","author_link":"https:\/\/aviacionaldia.com\/en\/author\/aad"},"uagb_comment_info":0,"uagb_excerpt":"Spirit Airlines reported Wednesday that it had postponed a shareholder vote on its sale to Frontier Group Holdings…","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/127830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/users\/4316"}],"replies":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/comments?post=127830"}],"version-history":[{"count":1,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/127830\/revisions"}],"predecessor-version":[{"id":127831,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/127830\/revisions\/127831"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media\/121654"}],"wp:attachment":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media?parent=127830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/categories?post=127830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/tags?post=127830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}