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JetBlue to Divest Some of Spirit’s Assets to Allegiant

DDG
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a close-up of a jet engine
A321LR (Image source: JetBlue)

JetBlue to Divest Some of Spirit’s Assets to Allegiant

JetBlue Airways and Allegiant announced today that the airlines have entered into a definitive agreement under which JetBlue will transfer to Allegiant all of the holdings of Spirit Airlines at Boston Logan International Airport and Newark Liberty International Airport.

Under the terms of the agreement, JetBlue has agreed to transfer to Allegiant all of Spirit’s holdings in Boston and Newark, principally consisting of two gates in Boston, two gates in Newark, and 43 takeoff and landing authorizations in Newark.

In addition, JetBlue has agreed to relinquish up to five gates at Fort Lauderdale to the Broward County Aviation Department. On June 1, JetBlue announced that it will divest all of Spirit’s holdings at New York’s LaGuardia Airport to Frontier.

These divestitures were part of JetBlue’s voluntary upfront commitments included in the merger agreement with Spirit Airlines and were conditioned on the completion of the merger. Financial terms were not disclosed.

These divestitures are still subject to approval by the relevant airport authorities, the Federal Aviation Administration, and the US Department of Transportation.

The Justice Department several attorneys general have filed an antitrust lawsuit aiming to block JetBlue’s $3.8 billion purchase of Spirit. A trial is scheduled to start next month in federal court in Boston.

JetBlue said in a press release that it expects to close the transaction with Spirit in the first half of 2024.

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DDG
DDGhttp://dannydealguru.com
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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