US airline Jetblue is offering $3.6 billion for rival Spirit

Jet blue logo

The US airline’s takeover bid for Spirit Airlines is significantly higher than that of Frontier Airlines two months earlier.

(Photo: AP)

Miramar The US airline Jetblue Airways has submitted a multi-billion dollar bid to buy its competitor Spirit Airlines. Spirit confirmed a New York Times report Tuesday that the bid was $33 a share. This would result in a total price of around 3.6 billion dollars (3.3 billion euros). Spirits shares rose 22 percent in US trading.

With the advance, Jetblue is mixing up an already existing merger plan by Spirit. Actually, the US low-cost airline had already accepted an offer of 2.9 billion dollars from competitor Frontier Airlines in February. Spirit said it will look more closely at Jetblue’s much higher offer and then decide what is in the best interests of the company and its shareholders.

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