Spirit may have a different name soon as the airline company finally approves JetBlue Airways‘ takeover.
After receiving a $3.8 billion all-cash offer for Spirit, it looks like the airlines are moving in the right direction. On Wednesday, Spirit announced the news in a press release.
Spirit CEO said, “This is an important step forward on our path to closing a combination that will create the most compelling national low-fare challenger to the dominant U.S. carriers.”
The entire transition is expected to finish no later than the first half of 2024, and a full brand transition is expected. The airline is known for its ultra-low airfare, but with obnoxious fees on carry-on bags and add-ons, bags will no longer exist, so book your travel now if you fly the airline.
Now that the idea has been approved, Spirit must prove to federal regulators that the deal will not harm competition and drive up consumer prices, primarily since Spirit is known to be the most affordable airline and the fifth-largest carrier.
“We look forward to continuing our ongoing discussions with regulators as we work toward completing the transaction and delivering value to Team Members, Guests, and stockholders,” Spirit Airlines CEO adds.
