Spirit Airlines Inc.
will again postpone a shareholder vote on a merger with Frontier Group Holdings Inc.
as the carrier holds deal talks with Frontier and rival suitor Jetblue Airways Corp.
the company said Thursday.
The delay to July 15 is the third time Spirit has put off the shareholder referendum on its planned sale to Frontier, which was first announced in February. The vote had initially been scheduled for June 10, but was pushed back to June 30. That vote was called off last week the evening before the vote—and pushed to July 8.
As votes came ahead of last week’s planned vote, it looked like it would be difficult for the Frontier deal to gain approval by shareholders, The Wall Street Journal reported. JetBlue Chief Executive Robin Hayes said at the time that investors had handed the Spirit board an “undeniable mandate” to reach an agreement with JetBlue.
Spirit and JetBlue spent much of this week negotiating new terms and could reach an agreement as soon as next week, assuming talks don’t fall apart, according to people familiar with the matter. There are no guarantees they will, and Frontier would have an opportunity to alter its offer should they do so.
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