JetBlue CEO Robin Hayes, has welcomed the decision by the Spirit Board of Directors to adjourn its special meeting. He said: “We remain encouraged by the significant progress made in our ongoing discussions with Spirit. Additionally, Frontier has now confirmed that it does not intend to make any further changes to the terms of its latest proposal and that Spirit shareholders should consider it to be Frontier’s last, best and final offer, and itself has acknowledged that Spirit remains “very far” from receiving approval for that transaction. Despite this and Spirit’s shareholders repeated and now increasingly public acknowledgements that JetBlue’s latest proposal is clearly superior in every respect, by moving the Special Meeting again, the Spirit Board is delaying the ability of Spirit shareholders to receive JetBlue’s superior terms.”
Hayes added that: “JetBlue is now standing ready to enter into a binding merger agreement with Spirit as soon as practicable and at the latest, immediately following Spirit shareholders voting against the Frontier transaction on July 27, 2022.”