JetBlue Airways is proceeding with its merger with spirit despite a Department of Justice injunction.
JetBlue announced this week it will continue with its prepayments to Spirit Airlines as part of the merger process.
The airline announced a planned merger with Spirit last year for $3.1 billion, but the Department of Justice sued earlier this month to stop the merger.
According to the company, it “has set March 27, 2023, as the record date for the March 2023 prepayment to Spirit stockholders of $0.10 per Spirit share (the “March 2023 Additional Prepayment”), with payment of the March 2023 Additional Prepayment to occur on March 31, 2023. Pursuant to the Merger Agreement, Spirit stockholders as of the March 27, 2023, record date will be entitled to receive the March 2023 Additional Prepayment.”
JetBlue is also in a legal battle over its alliance with American Airlines.
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
All content is property of the owner, unless otherwise specified. This content is not owned, or maintained by TravelMart,
and is used only for informational purposes. Please visit the content owners link
via the source link for more information.