JetBlue makes offer for Spirit Airlines, could spark bid war
JetBlue Airways has offered to buy Spirit Airlines for about $3.6 billion and break up a plan for Spirit to merge with rival budget carrier Frontier Airlines. Spirit said Tuesday that its board will evaluate the JetBlue bid and decide what's best for its shareholders. JetBlue offered $33 per share in cash, which would be about 40% higher than Frontier would pay for Spirit under terms of a deal announced in February.news.yahoo.com
Spirit Airlines shares spike 20% on report JetBlue has made bid to buy airline
Spirit Airlines planes on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Shares of Spirit Airlines surged more than 22% on Tuesday after a report that JetBlue Airways has made a bid for the budget carrier. Trading in Spirit was halted before the market close. JetBlue's bid, reported by The New York Times, comes less than two months after Spirit and budget rival Frontier Airlines agreed to combine. JetBlue, Spirit and Frontier didn't immediately comment to CNBC.cnbc.com
Frontier-Spirit merger could have impact in Valley
The merger of Frontier Airlines and Spirit Airlines, the two biggest low-cost air passenger carriers in the nation, could have a knock-on effect for air travelers here in the Rio Grande Valley. The merger was announced Monday, and Frontier has been expanding its presence at Valley International Airport, with flights to Denver and Chicago and recently added direct flights to and from Orlando and Las Vegas. Spirit does not offer flights at Valley International. The merger is valued at $6.6 billion and is structured so that Frontier controls 51.5 percent of the combined airline while Spirit takes 48.5 percent. Two Frontier flights to Valley International, from Las Vegas and Orlando, were not affected Monday.myrgv.com
I flew Spirit across the US for $35 after it canceled thousands of flights in August. I wouldn't hesitate to do it again but it wasn't without risks.
My ticket may have only cost around $35 but the low fares can sometimes be too cheap to be true, as thousands of Spirit flyers found over the summer.news.yahoo.com
Spirit Airlines says operational meltdown cost it about $50 million, cuts third quarter schedule
Passengers wait in line at the Spirit Airlines check-in counter at Orlando International Airport on the sixth day the airline has cancelled hundreds of flights. Spirit Airlines said Monday that its recent massive flight disruptions due to staffing shortages, bad weather and technical problems cost it about $50 million in revenue. "To enhance network stability in light of continuing airport staffing shortages, the Company has elected to make tactical schedule reductions throughout the remainder of the third quarter," Spirit said. It also warned that customers are canceling more bookings, which it attributed to rising numbers of Covid-19 infections. "This behavior, together with the Company's tactical cancellations, is expected to drive an additional $80 to $100 million of negative revenue impact during the third quarter," it said.cnbc.com
Flight attendant union sends blistering response to Spirit's request for airport volunteers amid cancellation chaos: 'Why get abused for free when you can get paid for it?'
Spirit executives asked flight attendants to volunteer at airport kiosks amid mass cancellations, according to emails obtained by Insider.news.yahoo.com
Flight cancellation chaos
It's been the travel week from hell for Americans across the country.Driving the news: Low-cost carrier Spirit Airlines was at the forefront of a disastrous few days of flight cancellations.Get market news worthy of your time with Axios Markets. Subscribe for free.It was a perfect storm of bad weather, IT outages and not enough people to staff flights — as airlines face a surge of travelers.By the numbers: Spirit was responsible for 80% of all U.S. flight cancellations on Thursday — when it cancnews.yahoo.com
Spirit warns of layoffs; aid for contractors being examined
Separately, key members of Congress said they are investigating aviation contractors that took federal payroll aid and then laid off thousands of workers. Airlines and airline contractors who received cash from a $32 billion pool of federal payroll aid agreed not to lay off workers until Oct. 1. Airline labor unions are lobbying Congress for six more months of federal aid. Some contractors who received money laid off workers anyway, according to three Democrats in the U.S. House of Representatives. At Spirit, the pilots union said it was notified Wednesday that 806 pilots could be furloughed, or terminated with rehiring rights.