JetBlue Airways Corp Chief Executive Robin Hayes said Friday he is “optimistic” he can reach a deal to acquire Spirit Airlines Inc.
JetBlue has sweetened its offer for Spirit by increasing its reverse break-up fee by $150 million to $350 million, raising the overall value of its proposed deal to $3.4 billion.
Florida-based ultra-low-cost carrier Spirit is the subject of a bidding war between JetBlue and Frontier Group Holdings Inc
Spirit has repeatedly rejected JetBlue’s offer, saying it has a low likelihood of winning approval from U.S. regulators.
The ultra-low-cost carrier Spirit postponed a shareholder vote on its merger with Frontier to June 30 from June 10.