(Reuters) – JetBlue Airways and Frontier Group are in a tug of war for low-cost carrier Spirit Airlines, as U.S. airlines jostle for a larger share of the rebounding leisure travel market to better compete with legacy carriers.
JetBlue made an unsolicited offer of $33 per share in cash, surpassing a near $25 per share cash-and-stock bid from Frontier made in February, prompting Spirit to open talks with the New York-based airline.
Here is a brief look into the companies at the heart of the latest consolidation in the U.S. airline industry:
Spirit Airlines Inc
Spirit Airlines was founded in 1964 as Clippert Trucking Co. It operates in more than 85 destinations across 16 countries, including the United States, Latin America and the Caribbean.
Headquarters Miramar, Florida
Fleet Operated 173 aircraft as of Dec. 31,
Fleet type Airbus (A319, A320ceo, A320neo, A321)
Revenue $3.23 billion for year ended 2021
Market Cap $2.85 billion, according to Refinitiv
Routes 360 markets served by 85 airports
Employees 9,823 active employees as of Dec 31,
JetBlue Airways Corp
JetBlue Airways, incorporated in August 1998, primarily operates routes across the United States.
Headquarters Long Island City, New York
Fleet Operated 282 aircraft as of Dec. 31,
Fleet type Airbus A220, Airbus A320, Airbus
A321, Airbus A321neo, and Embraer
Revenue $6.04 billion for year ended 2021
Market Cap $3.82 billion, according to Refinitiv
Routes Over 100 destinations across the
United States, the Caribbean and
Latin America, and between New York
Employees Employed an average of 15,452
full-time and 4,014 part-time crew
members for the year ended Dec. 31,
Frontier Group Holdings:
Frontier Group, operating as Frontier Airlines, was incorporated in September 2013 by ultra-low-cost airline pioneer Bill Franke. The carrier flies Airbus aircraft across the United States and some international destinations.
Headquarters Denver, Colorado
Fleet Operated 110 aircraft as of Dec 31,
Fleet type Airbus single-aisle aircraft;
A320ceos, A320neos , A321ceos
Revenue $2.06 billion for year ended 2021
Market Cap $2.33 billion, according to Refinitiv
Routes U.S., Mexico, Puerto Rico, Jamaica,
Guatemala, El Salvador, Dominican
Republic, and Canada
Employees 5,502 total employees, as of Dec 31,
(Reporting by Nilanjana Basu in Bengaluru, Additional reporting by Sriraj Kalluvila; Editing by Devika Syamnath)