JetBlue Says Spirit Distorting Facts To Ignore Best Interests Of Its Shareholders

(RTTNews) - Following the unanimous rejection of the unsolicited tender offer from JetBlue Airways Corp. (JBLU) by Spirit Airlines, Inc. (SAVE) on Thursday, JetBlue hit back immediately saying the Spirit Board, driven by serious conflicts of interest, continues to ignore the best interests of its shareholders by distorting the facts to protect their inferior deal with Frontier Airlines, Inc. (FRNT).

JetBlue said both deals are subject to regulatory review, and both deals have a similar risk profile. It added that Spirit shareholders recognize that and are showing great interest in hearing more about our superior offer and the regulatory commitments and protections JetBlue has made, including a reverse break-up fee.

JetBlue noted that Frontier offers less value, more risk, and no regulatory commitments, despite a similar regulatory profile.

JetBlue believes that the Spirit shareholders will make their views known by voting against the Frontier offer and tendering their shares into its offer.