JetBlue Airways has reached a 3.8 billion dollar deal to buy Spirit Airlines.
The move was announced this morning and will create the country’s fifth-largest airline.
The news comes hours after Spirit scrapped plans to combine with Frontier Airlines.
If approved, JetBlue’s takeover of Spirit would leave Frontier as the largest discount carrier in the U.S.
JetBlue executives say that buying Spirit would fast-track its growth by giving it access to more Airbus jetliners and pilots and help it compete with large carriers.
A JetBlue acquisition of Spirit Airlines would face high scrutiny from the Justice Department.
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