JetBlue Airways buys Spirit Airlines

JetBlue Airways has entered into an agreement to buy Spirit Airlines for $3.8 billion, or 33.5 per share, including an upfront fee of $2.5 per share payable upon approval by Spirit shareholders and a fee of $0.10 per month, beginning in January 2023 and continuing until the deal closes. The companies expect to be able to obtain shareholder and regulatory approval and close the deal in the first half of 2024.