Spirit shareholders approve takeover by JetBlue after long battle for discount airline

A bulk of Spirit Airlines shareholders person approved a takeover by JetBlue Airways, ending a six-month conflict to make the country's fifth-largest carrier.

Spirit announced the results of the vote aft a peculiar shareholder gathering connected Wednesday. In April, JetBlue made a $3.8 cardinal all-cash connection for Spirit, derailing Spirit's program for a cash-and-stock woody to merge with Frontier Airlines.

The airlines present indispensable person national regulators that that statement won't harm contention and thrust up fares for consumers, a major hurdle successful getting the takeover approved.

"This is an important measurement guardant connected our way to closing a operation that volition make the astir compelling nationalist low-fare challenger to the ascendant U.S. carriers," Spirit Airlines CEO Ted Christie said successful a quality release. "We look guardant to continuing our ongoing discussions with regulators arsenic we enactment toward completing the transaction and delivering worth to Team Members, Guests and stockholders."

Analysts expected the woody to triumph shareholder approval. Spirit shares were up 0.7% and JetBlue shares were up 1.1% successful premarket trading, moving precise small aft the results were announced.

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