On June 20, 2022, JetBlue Airways Corporation announced that it has submitted a decisively superior proposal to the Board of Directors of Spirit Airlines, Inc. to acquire all of the outstanding common stock of the Company. JetBlue Airways stated that it submits decisively superior proposal with increased offer of $33.50 per share in cash, additional regulatory commitments. JetBlue Airways also stated that further improved proposal includes previous commitment of $350 million reverse break-up fee, accelerated prepayment of $1.50 per share.

JetBlue Airways added that after discussions with the Company, JetBlue Airways more convinced than ever that a combined JetBlue-Spirit would create true national competitor to the dominant airlines, with compelling benefits for all stakeholders.