Skift Take
Both airlines came to the conclusion that it would be unlikely for them to meet the requirements of the merger by July 24.
JetBlue announced Monday it reached an agreement with Spirit Airlines to terminate its merger.
Both airlines said they believed it was unlikely that all the conditions for the merger would be met by July 24.
“We believed this merger was worth pursuing because it would have unleashed a national low-fare, high-value competitor to the Big Four airlines,” said Joanna Geraghty, JetBlue’s CEO.
As part of the merger agreement, JetBlue will pay Spirit $69 million.
This story is breaking and will be updated.
