JetBlue and Spirit announced a definitive merger agreement in 2022, valuing Spirit’s equity at $3.8 billion and enterprise at $7.6 billion. Regulators intervened in early 2024 citing antitrust concerns, blocking the deal that would have made JetBlue the fifth-largest U.S. carrier with over 1,700 daily flights.

Spirit Airlines struggled to raise the hundreds of millions of dollars in additional liquidity needed to sustain operations. Its leadership determined that without that funding, the airline could not continue, leading to a complete shutdown after more than three decades in service.

The blocked merger and Spirit’s collapse eliminate JetBlue’s planned network expansion in key markets like Fort Lauderdale, Los Angeles, Las Vegas and Miami. Loss of anticipated cost synergies and added frequency may pressure JetBlue’s growth strategy and competitive position against major carriers.