Spirit Aerosystems shares surge on possible Boeing buy
9 months, 3 weeks ago

Spirit Aerosystems shares surge on possible Boeing buy

Hindustan Times  

Shares of Spirit AeroSystems surged Friday on news Boeing is in talks to potentially acquire the supplier as the aviation giant seeks to right itself amid its latest safety crisis. HT Image Spirit finished Friday's session up more than 15 percent following a Wall Street Journal report that it hired bankers and was holding preliminary talks to be bought by Boeing. "We believe that the reintegration of Boeing and Spirit AeroSystems' manufacturing operations would further strengthen aviation safety, improve quality and serve the interests of our customers, employees, and shareholders," said a statement from Boeing, which ended Friday's session down 1.8 percent. On January 31, Boeing Chief Executive Dave Calhoun told CNBC that Boeing had sent a "huge team" to work with staff at Spirit.

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History of this topic

Spirit Airlines delays release of Q3 financial results as debt restructuring talks heat up
1 month, 1 week ago

Spirit Airlines delays release of Q3 financial results as debt restructuring talks heat up

Associated Press  

NEW YORK — Shares of Spirit Airlines plunged Wednesday after the budget airline said that it won’t announce quarterly financial results on time while it continues talks with bond holders to restructure its debt. If it can reach a deal, Spirit said, it would go through “a statutory restructuring” that would protect creditors, employees, customers and companies that do business …

Spirit Airlines prepares for bankruptcy - sparking fears of mass route cancellations across America
1 month, 1 week ago

Spirit Airlines prepares for bankruptcy - sparking fears of mass route cancellations across America

Daily Mail  

Spirit Airlines is preparing to file for bankruptcy protection after merger talks with Frontier Airlines nosedived - sparking fears among flyers about mass cancelations. Spirit airlines share price plunged 45 percent in aftermarket trading on Tuesday after news that it was set to file for bankruptcy was reported by the Wall Street Journal. Spirit executives saw the merger with JetBlue …

Spirit Airlines is going upscale. In a break from its history, it will offer fares with extra perks
4 months, 3 weeks ago

Spirit Airlines is going upscale. In a break from its history, it will offer fares with extra perks

Associated Press  

Spirit Airlines is moving farther away from its history as a fee-happy budget airline and will start selling tickets that include some of its most popular extras in bundles. CEO Ted Christie said the changes are “taking low-fare travel to new heights.” They also indicate the deep trouble with Spirit’s longtime business model. The airline with bright yellow planes hasn’t …

Boeing bears the brunt of crisis with criminal fraud charge and now Spirit deal
5 months, 3 weeks ago

Boeing bears the brunt of crisis with criminal fraud charge and now Spirit deal

Hindustan Times  

Six months after a fuselage blowout threw Boeing Co. into crisis, the full weight of the legal and financial fallout from the near-catastrophic accident is bearing down on the embattled US plane maker. US aircraft manufacturer Boeing says to buy subcontractor Spirit for $4.7 billion The US Justice Department plans to charge Boeing with criminal fraud after finding the company …

Under pressure on plane safety, Boeing is buying stressed supplier Spirit for $4.7 billion
5 months, 3 weeks ago

Under pressure on plane safety, Boeing is buying stressed supplier Spirit for $4.7 billion

Associated Press  

ARLINGTON, Va. — Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines and the Department of Justice. No one was seriously injured in the Alaska Airlines door incident, which terrified passengers, but Boeing is under pressure from the U.S. Justice …

Amid pressure on safety, Boeing is buying stressed supplier Spirit Aerosystems for $4.7 billion
5 months, 3 weeks ago

Amid pressure on safety, Boeing is buying stressed supplier Spirit Aerosystems for $4.7 billion

LA Times  

Boeing announced plans late Sunday to acquire Spirit AeroSystems for $4.7 billion in an all-stock transaction for the manufacturing firm. Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines and the Department of Justice. “Bringing Spirit and Boeing together will …

Key Boeing supplier Spirit AeroSystems is laying off 450 after production of troubled 737s slows
7 months, 1 week ago

Key Boeing supplier Spirit AeroSystems is laying off 450 after production of troubled 737s slows

Associated Press  

A key Boeing supplier that makes the fuselages for its popular 737 Max airplanes is laying off about 450 workers because production has slowed down ever since a panel flew off one of those airplanes operated by Alaska Airlines in midair in January. Spirit is Boeing’s most important supplier on the 737s because it makes fuselages and installs door plugs …

JetBlue-Spirit Airlines $3.8b merger cancelled after judge blocked deal
9 months, 2 weeks ago

JetBlue-Spirit Airlines $3.8b merger cancelled after judge blocked deal

Hindustan Times  

JetBlue Airways Corp. formally abandoned its pursuit of Spirit Airlines Inc. more than a month after a federal judge blocked the $3.8 billion acquisition on antitrust grounds. “The lingering uncertainty is distracting and taking our resources away from more pressing priorities.” The decision ends JetBlue’s lengthy quest for Spirit and marks a sharp reversal after the companies pledged to fight …

JetBlue and Spirit are ending their $3.8 billion merger plan after a federal judge blocked the deal
9 months, 2 weeks ago

JetBlue and Spirit are ending their $3.8 billion merger plan after a federal judge blocked the deal

Associated Press  

JetBlue Airways and Spirit Airlines are ending their proposed $3.8 billion merger weeks after a federal judge blocked the deal, saying it would hurt consumers who depend on Spirit’s lower fares. “Today’s decision by JetBlue is yet another victory for the Justice Department’s work on behalf of American consumers,” Attorney General Merrick Garland said in a statement. “The Justice Department …

Boeing confirms it’s in talks to buy Spirit AeroSystems, its key supplier on the troubled 737 Max
9 months, 3 weeks ago

Boeing confirms it’s in talks to buy Spirit AeroSystems, its key supplier on the troubled 737 Max

Associated Press  

DALLAS — Boeing said Friday that it is in preliminary talks to buy Spirit AeroSystems, which builds fuselages for Boeing 737 Max jetliners, including the one that suffered a door-panel blowout on an Alaska Airlines flight in January. Boeing used to own Spirit, and it said that bringing the supplier back into the Boeing fold would improve plane quality and …

JetBlue tells Spirit Airlines that it may terminate its $3.8 billion buyout offer challenged by US
10 months, 4 weeks ago

JetBlue tells Spirit Airlines that it may terminate its $3.8 billion buyout offer challenged by US

Associated Press  

NEW YORK — JetBlue Airways warned that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend after a federal judge blocked the deal, sending Spirit shares sharply lower Friday. Spirit shot back that it finds no reason to terminate the deal and will continue to meet its obligations, “and it expects JetBlue to …

JetBlue’s incoming CEO clings to Spirit deal with few other options
11 months ago

JetBlue’s incoming CEO clings to Spirit deal with few other options

LA Times  

Joanna Geraghty officially takes over as JetBlue’s chief executive in February. In addition to a federal judge last week blocking the carrier’s plan to acquire Spirit in a $3.8-billion deal, JetBlue’s route-sharing partnership with American Airlines Group was shot down in the courts last year. “But that seems to have worked off in the recent years and they seem like …

Spirit Air stock bounces back a bit, airline says holiday travel boosted revenue
11 months ago

Spirit Air stock bounces back a bit, airline says holiday travel boosted revenue

Associated Press  

Spirit Airlines jumped in morning trading Friday after the struggling discount carrier said a strong holiday travel season boosted its fourth-quarter revenue. Spirit said it expects to post revenue of $1.3 billion when it releases its results for the final quarter of 2023 early next month. The airline’s shares lost more than half their value earlier in the week after …

With merger scuttled, Spirit Airlines faces an uncertain future. Is bankruptcy a possibility?
11 months, 1 week ago

With merger scuttled, Spirit Airlines faces an uncertain future. Is bankruptcy a possibility?

Associated Press  

Spirit Airlines hasn’t made money since before the pandemic, ticket sales haven’t bounced back as quickly as the carrier expected, and dozens of its planes will be grounded at times this year because of a problem with the engines. But a federal judge in Boston scuttled that plan by ruling Tuesday that JetBlue’s $3.8 billion proposal to buy Spirit violates …

Boeing and a key supplier find a new manufacturing issue that affects the 737 Max airliner
1 year, 4 months ago

Boeing and a key supplier find a new manufacturing issue that affects the 737 Max airliner

Associated Press  

Boeing and a key supplier say that a new manufacturing flaw could delay deliveries of the 737 Max, Boeing’s best-selling plane. Boeing and Spirit AeroSystems said they discovered improperly drilled fastener holes in the aft pressure bulkhead — which maintains pressure when planes are at cruising altitude – on the fuselages of some models of the 737 Max. Spirit AeroSystems …

Striking workers at a key Boeing supplier approve a new contract and will return to work next week
1 year, 5 months ago

Striking workers at a key Boeing supplier approve a new contract and will return to work next week

Associated Press  

WICHITA, Kan. — Workers at Spirit AeroSystems have ratified a new contract and will end a brief strike that threatened to disrupt the manufacturing of airline jets at Boeing, a key customer. The union said late Thursday that 63% of members who voted on the new four-year contract proposal agreed to accept it. The company said it would begin restoring …

Spirit Aerosystems, major airlines supplier, suspends plant operations after labor contract rejected
1 year, 6 months ago

Spirit Aerosystems, major airlines supplier, suspends plant operations after labor contract rejected

The Independent  

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Spirit Aerosystems, major airlines supplier, suspends plant operations after labor contract rejected
1 year, 6 months ago

Spirit Aerosystems, major airlines supplier, suspends plant operations after labor contract rejected

Associated Press  

Spirit Aerosystems, a major supplier to the world’s largest aircraft manufacturers, is suspending operations at a critical Kansas plant after union workers there rejected a proposed four-year contract and authorized a strike. Approximately 6,000 members of the IAM District 70, Local 839 voted to reject Spirit Aerosystems’ best and last offer after 13 years without a fully negotiated agreement, the …

Spirit Airlines shareholders approve $3.8B sale to JetBlue
2 years, 2 months ago

Spirit Airlines shareholders approve $3.8B sale to JetBlue

Associated Press  

Spirit Airlines shareholders voted Wednesday to accept a $3.8 billion buyout from JetBlue Airways, but the deal could still face a challenge from federal antitrust regulators. JetBlue emerged as the winner in a bidding war with Frontier to acquire Spirit, the nation’s biggest budget airline. Wall Street widely expected shareholders to approve the sale after they forced Spirit to drop …

Spirit’s delay allows airline bidding war time to play out
2 years, 5 months ago

Spirit’s delay allows airline bidding war time to play out

Associated Press  

NEW YORK — Shares of Spirit Airlines rose Thursday after it postponed a vote for the second time on a proposed merger with Frontier Airlines, allowing for a bidding war over the budget airline between Frontier and JetBlue Airways to play out. JetBlue CEO Robin Hayes said Spirit shareholders gave their board a mandate to negotiate a sale to his …

Merger vote at Spirit could reshape discount airline market
2 years, 5 months ago

Merger vote at Spirit could reshape discount airline market

Associated Press  

DALLAS — The prospect of a takeover of Spirit Airlines threatens to upend the cheap-fare end of the industry much like a series of mergers among big airlines reduced choices for travelers. Consumers, he said, “should be looking for continuation of a true low-fare, austere environment with the Spirit-Frontier combination.” Scott Keyes, the founder of Scott’s Cheap Flights travel site, …

Merger vote at Spirit could reshape discount airline market
2 years, 5 months ago

Merger vote at Spirit could reshape discount airline market

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Scott Keyes, the founder of Scott’s Cheap Flights travel …

Spirit Airlines delays shareholder meeting as it weighs Frontier, JetBlue bids
2 years, 6 months ago

Spirit Airlines delays shareholder meeting as it weighs Frontier, JetBlue bids

Live Mint  

Spirit Airlines Inc. has postponed a planned stockholder meeting on its proposed merger with Frontier Group Holdings Inc. as it weighs a competing bid from JetBlue Airways Corp. In May, JetBlue launched a hostile takeover after Spirit rejected JetBlue’s $3.6 billion bid, appealing to shareholders in hopes of pressuring Spirit management to reopen talks. William Franke, Frontier’s chairman, said that …

Spirit Airlines board urges shareholders to reject JetBlue offer
2 years, 7 months ago

Spirit Airlines board urges shareholders to reject JetBlue offer

Live Mint  

Spirit Airlines Inc.’s board is urging shareholders to reject a hostile takeover bid from JetBlue Airways Corp. and vote in favor of a tie-up with Frontier Group Holdings Inc. The board said in a statement that the unsolicited $30-per-share offer from JetBlue isn’t in Spirit’s best interest given the substantial regulatory hurdles the deal would face. Spirit Chairman Mac Gardner …

Spirit Airlines will talk to JetBlue about takeover bid
2 years, 8 months ago

Spirit Airlines will talk to JetBlue about takeover bid

Associated Press  

DALLAS — Spirit Airlines said late Thursday that it will talk to JetBlue Airways about its $3.6 billion bid to combine the two airlines, which appeared to leapfrog an earlier offer by Frontier Airlines. Spirit said that after speaking with financial and legal advisers, its directors believe JetBlue’s offer could “reasonably” turn out to be the better of the two …

Spirit Airlines will talk to JetBlue about takeover bid
2 years, 8 months ago

Spirit Airlines will talk to JetBlue about takeover bid

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

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