Sunday 9 Aug, 2026

Airline Jetblue cancels acquisition of competitor

Photo:JetBlue

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The American low-cost airline Jetblue is canceling its attempt to acquire competitor Spirit, and will therefore have to pay a so-called "break-up fee", according to a press release.

There have been many twists and turns surrounding Jetblue and Spirit since February 2022, when Jetblue submitted a bid worth $3.8 billion shortly after another competitor, Frontier, tried to buy Spirit for $2.9 billion. 

Authorities have since stopped the deal, which according to the judge who blocked the purchase risked threatening competition and leading to increased ticket prices for some travelers. 

The judge's ruling, which was communicated in January, means that Jetblue no longer considers itself able to fulfill its obligations in accordance with the acquisition agreement.

JetBlue will pay Spirit $69 million in breakup fee.

Spirit's stock was down 12 percent in US pre-market trading, while Jetblue climbed 5 percent after it was announced that the deal would not happen.

Source: Nyhetsbyrån Direkt

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