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Benzinga

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Adam Eckert

FORGOTTEN HISTORY: Why spirit airlines stock is grounded today | History Defined

Spirit Spirit Airlines JetBlue Nasdaq Frontier JetBlue Airways Corp NYSE

Spirit Airlines Inc (NYSE:SAVE) shares are trading lower Monday after the company rejected JetBlue Airways Corp's (NASDAQ:JBLU) proposal and said it will proceed with its previously-announced merger agreement with Frontier Group Holdings Inc (NASDAQ:ULCC).

Both Frontier and JetBlue aim to acquire Spirit to better compete with legacy carriers. Spirit has a merger agreement in place with Frontier for $2.9 billion.

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