The battle to woo Spirit Airlines will continue for another week as the carrier needs more time to decide which suitor presents better prospects. Spirit has postponed the Frontier vote again as inside murmurs suggest that many shareholders are yet to be convinced whether Frontier’s the way to go.

One more week

Spirit Airlines needs further discussions with both Frontier and JetBlue Airways to decide which deal is likely to be more beneficial for the carrier. In an official statement released by the airline a day before the ‘Special Meeting,’ Spirit said that it has now been delayed until July 15th.

Spirit will continue to solicit shareholder proxies, but “there will be no voting or other matters conducted at the meeting on July 8th.” Just like before, the airline will reopen and immediately adjourn the meeting.

This is the third time Spirit has delayed the vote, which was initially scheduled for June 10th. It was pushed to June 28th, but the airline had postponed it again until July 8th last week, a day before the vote.

Spirit Airlines A320 Engine
Photo: Denver International Airport 

Frontier and Spirit had initially announced a $2.9 billion cash-and-stock deal to form a formidable combined airline entity in the super-competitive US aviation market. But JetBlue clearly didn’t want to be a silent spectator and swooped in with its own $3.6 billion all-cash offer to buy Spirit in April.

Since then, the corporate battle to win Spirit over has been playing out in the public domain, with still no decision made.

A320 Frontier Airlines - Take Off
It has been a frustrating wait for Frontier with multiple delays by Spirit. Photo: Airbus

JetBlue in good ‘spirits’

With every delay, the deal, which many consider Frontier’s to lose, JetBlue seems to gain a slight edge. Many sources familiar with the matter say that it wasn’t exactly clear if Spirit had the shareholder support it needed to get the Frontier deal passed ahead of the last scheduled meeting.

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JetBlue thinks the pendulum is swinging its way and feels confident about winning Spirit over. The airline responded to the meeting’s delay by saying,

"We are encouraged by our discussions with Spirit and are hopeful they now recognize that Spirit shareholders have indicated their clear, overwhelming preference for an agreement with JetBlue. We strongly recommend that Spirit shareholders continue to let the Spirit Board know they want to receive the superior value JetBlue has proposed, by voting AGAINST the Frontier transaction."

JetBlue Airways Airbus A321LR
Photo: Vincenzo Pace | Simple Flying.

But JetBlue has its own set of roadblocks that could potentially harm the deal. The airline is already facing a lawsuit from the US Justice Department over its partnership with American Airlines in the New York and Boston areas and cannot give Spirit assurances to pass regulatory inspection to reach a deal.

Much at stake

Of course, both Frontier and JetBlue are willing to fight it out until the last moment simply because a successful deal with Frontier means a much more significant influence over the highly lucrative domestic US market.

The ultimate product of such a merger would emerge as the fifth-largest airline in the US after American Airlines, Delta, United, and Southwest. It remains to be seen whether July 15th will bring this saga to a proper conclusion.

Which airline do you think will come out on top after the voting? Do let us know in the comment section below.