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AP National Business

JetBlue’s bid for Spirit centers on adding planes to fleet

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Published 5:56 PM

By DAVID KOENIG
AP Airlines Writer

Investors seem to be taking a slightly dim view of JetBlue’s bid to buy Spirit Airlines for $3.6 billion. JetBlue shares fell nearly 9% Wednesday, and they are down more than 15% since news of the deal broke Tuesday. JetBlue executives are trying to convince Wall Street about the merits of the deal. JetBlue wants more planes to compete more evenly with American, Delta, United and Southwest. But new planes are in short supply. JetBlue CEO Robin Hayes says the chance to buy Spirit — including its orders for new Airbus jets — is the first benefit of the deal.

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