Jetblue Awys Corp Stock Price, News & Analysis

TIG Advisors, which owns approximately 2 million shares of Spirit Airlines (SAVE), expressed intentions to vote against Spirit's proposed merger with Frontier Group (ULCC) at the upcoming special stockholders' meeting on June 30, 2022. They argue JetBlue's (JBLU) all-cash offer of $33.50 per share is superior, as it eliminates execution risk and maximizes shareholder value by offering $470 million upfront. The letter asserts that the Board's preference for the Frontier deal is detrimental to shareholder interests and emphasizes the likelihood of JetBlue's merger receiving regulatory approval.

JetBlue (NASDAQ: JBLU) has modified its proposal to acquire Spirit Airlines (NYSE: SAVE) in response to shareholder feedback, introducing a monthly ticking fee and raising the reverse breakup fee to $400 million. The accelerated prepayment has been increased to $2.50 per share. JetBlue urges Spirit shareholders to vote against Frontier's inferior offer, emphasizing its superior cash offer of at least $33.50 per share, providing a 52.1% premium over Frontier’s proposal. The adjustments aim to enhance shareholder value and certainty.

JetBlue (NASDAQ: JBLU) asserts that its proposal for Spirit Airlines (NYSE: SAVE) is superior to the revised Frontier deal. JetBlue offers $33.50 per Spirit share, representing a 38% premium over Frontier's amended proposal as of June 24, 2022. The airline plans to continue its "vote no" campaign against Frontier's deal at the upcoming Spirit special meeting. JetBlue argues that Spirit's board mischaracterizes the value of the Frontier deal and maintains that regulatory clearance for their transaction is feasible, backed by external expert analyses.

JetBlue (NASDAQ: JBLU) has expanded its TrueBlue loyalty program through a new partnership with Blade, enhancing travel options for loyalty members. Mosaic+ members are eligible for complimentary helicopter transfers between Manhattan and JFK/EWR airports, while other TrueBlue members will receive discounts on their first trips. This initiative positions JetBlue as the only U.S. airline offering such airport transfer benefits and aims to raise customer satisfaction by simplifying travel logistics. The partnership builds on previous enhancements made to the TrueBlue program in 2022.

Blade Air Mobility has partnered with JetBlue to integrate its Blade Airport service into JetBlue's TrueBlue loyalty program through 2023. This partnership allows JetBlue's Mosaic+ members to access complimentary helicopter transfers to and from JetBlue flights. Additionally, JetBlue's loyalty members will benefit from discounted Blade flights. Blade is expanding routes, including new daily service from BLADE Lounge East in Manhattan to JFK, enhancing travel efficiency for passengers.

Spirit Airlines (NYSE: SAVE) has acknowledged a revised acquisition proposal from JetBlue Airways (NASDAQ: JBLU) for all outstanding shares of Spirit stock. The Spirit Board of Directors will assess this offer with the help of financial and legal advisors, ensuring alignment with its merger agreement with Frontier Group Holdings (NASDAQ: ULCC). This evaluation is set to conclude before the Special Meeting of Spirit Stockholders on June 30, 2022. Shareholders need not take action at present, while ongoing talks with both JetBlue and Frontier continue.

JetBlue has proposed an enhanced offer of $33.50 per share in cash to acquire Spirit Airlines. This proposal includes a $350 million reverse break-up fee and the accelerated prepayment of $1.50 per share. The increased cash offer represents a 6.3% improvement over JetBlue's previous proposal and a 67.6% premium over Frontier's implied transaction value. JetBlue aims to create a robust national competitor to major airlines, benefiting customers and stakeholders.

JetBlue (NASDAQ: JBLU) has announced significant developments in its London service, marking a pivotal step in its transatlantic expansion. The airline has secured permanent slots at Heathrow, allowing for consistent operations starting October 29, 2022. JetBlue will increase its daily transatlantic flights from New York from one to five by fall 2022, adding a second daily flight to Gatwick. Enhanced airport experiences and expedited security for select customers are also introduced, reinforcing JetBlue's commitment to competitive fares and superior service.

JetBlue (NASDAQ: JBLU) has launched seasonal flights from Boston Logan International Airport (BOS) to Asheville Regional Airport (AVL) in North Carolina, operating Thursday through Monday and expanding to daily service later this summer. The new route supports JetBlue’s Southeast growth strategy. To celebrate the launch, JetBlue offers $89 one-way fares available online only. This expansion includes more than half a dozen new destinations and aims to utilize the Northeast Alliance for up to 225 daily departures from Boston this summer.