JetBlue, Frontier Reach Divestiture Agreement Amid Spirit Deal
JetBlue and Frontier Airlines have announced a definitive agreement wherein the former will divest all Spirit Airlines holdings at LaGuardia Airport to the latter.
JetBlue and Frontier Airlines have announced a definitive agreement wherein the former will divest all Spirit Airlines holdings at LaGuardia Airport to the latter.
DALLAS — JetBlue (B6) and Frontier Airlines (F9) have officially announced a definitive agreement wherein B6 will divest all of the holdings of Spirit Airlines (NK) at New York's LaGuardia Airport (LGA) to F9 as part of the planned merger between B6 and NK.
The agreement reflects B6's upfront commitments outlined in the merger deal with NK, though B6 says the divestitures are contingent upon successfully completing the B6-NK transaction.
As per the agreement, B6 has committed to transferring NK's assets at LGA, which primarily includes six gates at the Marine Air Terminal and 22 takeoff and landing slots, to F9.
These divestitures are contingent upon the successful completion of B6's planned merger with NK. They are subject to additional closing requirements, including approval from the Port Authority of New York and New Jersey and the FAA/DOT. B6 anticipates finalizing the transaction with NK in the first half of 2024.
"We are dedicated to preserving access to ultra-low-cost carrier services in New York through our combination with Spirit," stated Robin Hayes, CEO of B6. "We are delighted that this agreement with Frontier will ensure the continuation of the same level of ultra-low-cost carrier service at LGA," added Mr. Hayes.
"We are pleased to have reached this agreement to acquire Spirit's slot pairs and leasehold interests at LaGuardia Airport in New York, subject to regulatory approval of the JetBlue-Spirit merger," commented Barry Biffle, President and CEO of NK.
"This acquisition will allow us to significantly expand our operations at LaGuardia and provide even more 'Low Fares Done Right to customers in the greater New York City area," added Barry Biffle.
Feature Image: JetBlue N967JT Airbus A321-231(WL). Photo: Ryan Scottini/Airways
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