JetBlue buys Spirit for 3.8 billion

Associated Press

image.jpg-1.10546066 In this April 23, 2013, file photo, a JetBlue plane takes off in view of the air traffic control tower at Seattle-Tacoma International Airport, in Seattle. (Elaine Thompson, File/AP Photo) (In this April 23, 2013, file photo, a JetBlue plane takes off in view of the air traffic control tower at Seattle-Tacoma International Airport, in Seattle. (Elaine Thompson, File/AP Photo))

JetBlue will acquire Spirit for 33.50 per share in cash, including a prepayment of 2.50 per share in cash payable once Spirit stockholders approve the transaction

JetBlue is buying Spirit Airlines in a $3.8 billion deal, a day after Spirit and Frontier Airlines agreed to abandon their merger proposal.

JetBlue will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve the transaction.

There's also a ticking fee of 10 cents per month starting in January 2023 through closing.