Spirit says it will consider JetBlue's offer, setting up showdown with Frontier
Spirit Airlines said late Thursday that it would enter talks with JetBlue regarding the latter's surprise bid from JetBlue to acquire the ultra-low-cost carrier, setting the stage for a potential upset to a landmark merger deal between Spirit and Frontier.
In a press release, Spirit said that its board had decided to "engage in discussions" with the New York-based JetBlue following consultations with its financial and legal advisors. The board determined that JetBlue's offer could constitute a "superior offer" as defined by its previous merger agreement with Frontier.
"Spirit intends to engage in discussions with JetBlue with respect to JetBlue's proposal, in accordance with the terms of the Company's merger agreement with Frontier," the airline said in the release. "Spirit remains bound by the terms of the merger agreement with Frontier, and Spirit's Board has not determined that JetBlue's proposal in fact constitutes a Superior Proposal as defined in the merger agreement with Frontier."
"In addition, Spirit notes that there can be no assurance that the discussions with JetBlue will result in a transaction," the airline added. "Spirit shareholders do not need to take any action at this time, and Spirit's Board has made no change to its recommendation that its shareholders adopt the merger agreement with Frontier."
Now what? Does JetBlue's bid for Spirit put its American Airlines partnership at risk?
JetBlue's "unsolicited" bid, which was made public on Tuesday, would see the airline acquire Spirit for about $3.6 billion in cash, or $33 per share. Frontier's offer, which involves both cash and stock, was valued at about $25 per share.
Typically in a situation where a company has multiple bids, it has a fiduciary duty to accept the offer that's best for shareholders, which is usually — but not necessarily — the highest offer, according to one lawyer specializing in mergers and acquisitions, who asked not to be identified because he was not involved with the airline transaction.
Related: Skepticism on Wall Street as details emerge on JetBlue's bid for Spirit
The proposed merger with Frontier, which was announced in February, is largely seen as more straightforward, allowing the two airlines to expand their network while saving money on operations. The offer from JetBlue has been viewed with more skepticism, with the airline framing the takeover as a way to acquire new aircraft and expand its network faster than it would otherwise be able to. Analysts have pointed to potential regulatory objections to such a deal, as well as high costs for JetBlue to retrofit Spirit's aircraft in order to offer customers a consistent product.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees