JetBlue Airways Corp. (JBLU) has made an announcement indicating its potential termination of the merger agreement with Spirit Airlines, Inc. This termination could occur on or after January 28, 2024, if certain conditions are not met.
This agreement for a strategic merger was initially signed on July 28, 2022. The entities involved in this agreement include JetBlue, Spirit Airlines, and Sundown Acquisition Corp — a directly owned subsidiary of JetBlue.
JetBlue has informed that it is still evaluating its potential courses of action under the terms of this merger agreement.
Currently, Spirit Airlines' share value has seen a decrease of more than 16 percent in the New York Stock Exchange (NYSE).
