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Benzinga
Benzinga
Business
Adam Eckert

Why Spirit Airlines Stock Is Flying Today

Spirit Airlines Spirit JetBlue Nasdaq NYSE SAVE

Spirit Airlines Inc (NYSE:SAVE) shares are trading higher Tuesday after JetBlue Airways Corp (NASDAQ:JBLUE) increased its acquisition offer to $33.50 per share in cash, including a prepayment of $1.50 per share in cash.

The new offer is 6.3% higher or $2 per share more than the company's previous proposal on June 6. The new proposal also significantly increases the divestitures JetBlue would be willing to commit to making in order to obtain regulatory approval.

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