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Axios
Axios
Business

Spirit-JetBlue merger takes flight after Frontier deal terminated

Spirit JetBlue Frontier

Spirit Airlines and JetBlue Airways announced that they have agreed to a merger Thursday, less than a day after Spirit terminated its proposed merger with budget airline Frontier.

Driving the news: JetBlue said in a news release that it will pay $33.50 a share in cash for Spirit in a $3.8 billion deal, which was higher than Frontier's $2.6 billion offer in cash and stock.

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