JetBlue anticipates merging with Spirit by 2024

JetBlue has announced that it expects to complete its merger with Spirit Airlines by the first half of 2024, according to its Q1 2023 earnings release.

The carrier believes that the acquisition of Spirit will create a national low-fare challenger to the current airline industry landscape, stating that customers would benefit greatly from this pro-competitive transaction. Despite the US Department of Justice (DOJ) filing a lawsuit to block the merger, JetBlue’s CEO, Robin Hayes, believes that the DOJ has got it wrong and missed the point.

During the first three months of 2023, JetBlue earned $2.3 billion in revenue, with an operating expense of $2.5 billion, resulting in a net loss of $192 million. The airline plans to retire four A320 and six Embraer E190 aircraft in 2023, with that number growing to eight and 16, respectively, in 2024.