Jetblue Awys Corp Stock Price, News & Analysis

JetBlue has issued an open letter to Spirit shareholders urging them to vote against the proposed Frontier transaction. The letter emphasizes that JetBlue's offer includes a superior all-cash price of at least $33.50 per Spirit share, representing a 51% premium. Key benefits of the JetBlue proposal include an accelerated payment of $2.50 per share and a $400 million reverse break-up fee. JetBlue argues that shareholders will receive more cash with its offer than they would under Frontier's deal. The letter also criticizes Spirit's Board for its ties to Frontier and lack of engagement with JetBlue.

JetBlue launched its twelfth annual Soar with Reading initiative in Newark, NJ, featuring five free digital book vending machines. This program aims to tackle book availability in underserved communities, providing access to new books at no cost. Since 2015, JetBlue has donated over $4 million in books. The vending machines allow visitors to select books by various categories and are powered by Ricoh, featuring diverse stories for children and adults alike. The initiative emphasizes the importance of literacy and combats the summer learning slide.

Spirit Airlines has reiterated its strong recommendation for shareholders to vote FOR the merger with Frontier Airlines on the WHITE proxy card ahead of the Special Meeting on June 30, 2022. The company asserts that Frontier's offer, presenting potential value of at least $50 per share, is superior to JetBlue's recent bid. Spirit's management highlights serious regulatory concerns surrounding the JetBlue proposal, suggesting it lacks a clear path to approval. The company aims to emphasize the certainty and value offered by the Frontier merger.

JetBlue (NASDAQ: JBLU) has received favorable support from the Institutional Shareholder Services (ISS) for its acquisition offer for Spirit (NYSE: SAVE), which ISS describes as 'preferable' to the Frontier proposal. Major Spirit shareholder TIG Advisors publicly opposes the Frontier deal, arguing that JetBlue's all-cash bid significantly reduces execution risk and assures value. Amid the approaching special shareholder meeting, ISS has provided guidance on how clients can adjust their votes away from the Frontier merger, especially in light of Spirit's share price dropping 8% following the revised Frontier offer.

JetBlue Airways (NASDAQ:JBLU) has announced a multi-year partnership extension with Allianz Partners USA, enhancing travel insurance options for its customers. This collaboration enables JetBlue customers to protect their flights and vacation packages, reflecting increased demand for travel insurance post-pandemic. JetBlue Vacations will now offer Allianz Travel Insurance plans, including an Epidemic Endorsement that covers COVID-19 related issues. This partnership aims to provide customers with tailored insurance products, ensuring peace of mind during travel.

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.