JetBlue, Spirit Mutually Agree To Terminate Merger Agreement; JetBlue To Pay Spirit $69 Mln

(RTTNews) - JetBlue (JBLU) has reached an agreement with Spirit Airlines (SAVE) to terminate July 2022 merger agreement as required closing conditions, including receiving necessary legal and regulatory approvals, were unlikely to be met by the merger agreement's outside date of July 24, 2024. JetBlue will pay Spirit $69 million.

JetBlue will hold an Investor Day on May 30, 2024, to provide additional detail on its long-term strategy and ongoing revenue and cost initiatives.

Joanna Geraghty, CEO, JetBlue, said: "We have already begun to advance our plan to restore profitability. We look forward to sharing more on our progress in the coming months."