Fusion Spirit and Frontier is no more, but with jetblue yes

I melted itón previously announced between Spirit and Frontier Airlines, it doesn't go más, but yesí it will beá with JetBlue that achievedó convince the shareholders of the airlineíyellow line. CNN photo

JetBlue Airways Corporation y Spirit Airlines, Inc. They announced that their board of directors approved a FUSI agreementón definitive by virtue of which JetBlue acquireá Por $33,50 by acción in cash, including a prepayment of $2.50 by acción in cash payable with the approvalón of the transactionón by Spirit's shareholders and a rate of $0.10 per month from January 2023 until closing, for a total value of total diluted capital of $3.8 billion1 and an adjusted enterprise value of 7600 millions of dóhomes.

Key points of the FUSIón Between Spirit y jetblue

• the airíne to offerá to their 77 Millions of combined customers Más options and options.
• JetBlue plans to bring the JetBlue Experience to all planes, offering the combinationón úJetblue of low rates and a service awarded Más customers.
• The acquisitionón accelerateá The Org Growth PlanáJetblue Nico with Más de 1700 daily flights to más de 125 destinations in 30 paísucceedún the December schedules 2022.
• The acquisitionón increaseá Jetblue's relevance in certain key approach cities (Fort Lauderdale, Orlando, San Juan and the Ádrooling), así as in the centers of the four large airlineídenies (Las Vegas, Dallas, Houston, Chicago, Detroit, Atlanta and Miami).
• the airícombined line will haveá a fleet of 458 pro form aircraft and a portfolio of más de 300 Airbus aircraft with the opcióN new engines n, the neo engines, fuel efficient and lower carbon emissions, providing greater flexibility and efficiency while mitigating risk. limited availability of aircraft.
• JetBlue hopes to reach $600-700 millions in annual net synergies once the integration is completedón, bossed largely by the expansión of the offers for customers as a result of the greatest amplitude and depth of the combined network.
• It is projected to make itñíA combined has annual income of approximately $ 11.9 one billion in functionón of the income of 2019. Jetblue expects the transacción increases significantly the profits by actionón in the first toñor complete afterés of the closure.
• Jetblue hopes to maintain the flexibility of the balance sheet with an acelling after the transacción of 3.0-3.5x, very within Hist levelsórich, and continue its deleveraging trajectory as it captures synergies.
• The combined airbus fleet includesíTo the new A220 and A320neo, They have proven to offer two D improvementsífuel gitos and carbon emissions. Afterés of the closure, Jetblue takes advantageá The Compa's Order Portfolioñíto combined to accelerate the transición of the fleet to the PRóxima generationón of low fuel consumption aircraft.

The endón of the acquisitionón isá subject to the usual closure conditions, including receptionón of the required regulatory approvals and the approvalón of the shareholders of Spirit. Companies hope to conclude the regulatory process and close the transacción a máIt will take in the first semester of 2024.

The aerosolsíneas continueáNO operating independently until the transaction is closedón and their respective loyalty programs remainán without changes and customer accounts will not be seenán affected in any way.

Once the acquisition is completedón, the airícombined line will haveá its headquarters in New York and beá Directed by Robin Hayes.

As announcedó previously, Spirit has terminated his previous Fusi agreementón con Frontier. Jetblue has terminated its offer PúAcquisici blicaón in previously announced cash to acquire ordinary Spirit shares.