Soaring spirits
In July of 2022, Jetblue Airways announced its agreement to acquire Spirit Airlines in a $3.8 billion all cash bid, after Spirit walked away from a pending merger with Frontier Airlines. The merger is still yet to be approved by the Department of Justice and the Federal Trade Commission, but if permitted Jet Blue would become the fifth largest airline in the United States. Overall, Jet Blue has announced that the merger was driven primarily by need for expanded aircraft and labor capacity, which is indicative of the current issues facing many companies due to supply chain disruptions and labor shortages. Jet Blue, expects the companies to fully integrated by 2024, while working on the integration and finalization of the merger in 2023.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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