Spirit Airlines on Wednesday announced it would delay until July 8 a shareholder vote at a special meeting on a proposed merger with Frontier Airlines. The delay will allow Spirit’s board to “continue discussions” both with Frontier and competing suitor JetBlue Airways and “continue to solicit proxies from its stockholders with respect to the Special Meeting,” Spirit announced in a late Wednesday statement.
Spirit shareholders were slated to vote June 30 on a proposed merger with Frontier, a move endorsed by Spirit’s board of directors. JetBlue has submitted a competing offer.
JetBlue CEO Robin Hayes in a statement said: “We compliment the Spirit Board for listening to their shareholders, who clearly were not supportive of the Frontier transaction, and adjourning the Special Meeting. We look forward to commencing a constructive and substantive dialogue with them.”
Frontier did not immediately comment on Spirit’s delay.
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