JetBlue makes $3.6B offer to buy Spirit Airlines

LOUISVILLE, Ky. (WDRB) -- JetBlue Airways wants to buy the low-cost Spirit Airlines.

Executives made an unsolicited offer of $3.6 billion, which could impact a $2.9 billion deal already in the works between Spirit and Frontier Airlines.

Spirit and Frontier have been working to create a budget-friendly airline to compete with American, Delta, United and Southwest.

JetBlue officials said they want to do the same thing, and called their offer superior. But, according to a report from The Associated Press, the airline doesn't want Spirit's ultra-low-cost business model, or its last-place ranking in government-compiled customer complaints. It does, however, want Spirit's fleet of Airbus jets and orders for more planes to compete more evenly with other airlines with more planes.

JetBlue currently has more than 280 planes, compared to Spirit's 173 planes as of January 2022. Spirit has orders for another 120 planes from Airbus through 2027, the AP reported. Airbus and Boeing have had long backlogs of orders, making it harder for JetBlue to grow as quickly as it would like.

Robin Hayes, JetBlue CEO, said the airline's proposal to buy Spirit "is speeding up what it would take us years to do alone."

Spirit executives said they're evaluating JetBlue's offer. Meanwhile, Frontier said a JetBlue merger with Spirit wouldn't be good for travelers, but hasn't said whether or not it will increase or change its offer amid JetBlue's bid for the airline.

Both Frontier and Spirit fly in and out of Louisville's Muhammad Ali International Airport.