Spirit announces termination of merger agreement with JetBlue

image credit: Spirit

Spirit Airlines, Inc. today announced that its merger agreement with JetBlue Airways Corporation has been terminated by mutual agreement.

Ted Christie, Spirit’s President and Chief Executive Officer said: “After discussing our options with our advisors and JetBlue, we concluded that current regulatory obstacles will not permit us to close this transaction in a timely fashion under the merger agreement.

“We are disappointed we cannot move forward with a deal that would save hundreds of millions for consumers and create a real challenger to the dominant “Big 4″ U.S. airlines. However, we remain confident in our future as a successful independent airline. We wish the JetBlue team well.”

Christie continued, “Throughout the transaction process, given the regulatory uncertainty, we have always considered the possibility of continuing to operate as a standalone business and have been evaluating and implementing several initiatives that will enable us to bolster profitability and elevate the Guest experience.

“As we go forward, I am certain our fantastic Spirit team will continue delivering affordable fares and great experiences to our Guests.”