Spirit Airlines, Inc. (“Spirit” or the “Company”) (NYSE: SAVE) today announced that leading independent proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”) have recommended that Spirit stockholders vote FOR the merger agreement with JetBlue Airways Corporation (“JetBlue”) (NASDAQ: JBLU).
“We appreciate that both of the leading proxy advisory firms recognize the merger agreement with JetBlue is the best path forward for Spirit, creating significant value for our stockholders and enhancing our ability to grow and compete with the dominant U.S. carriers,” said Ted Christie, President and CEO of Spirit. “In its recommendation, ISS highlighted the significant financial protections for stockholders as well as the compelling cash premium. Glass Lewis acknowledged stockholders as of the record date of the meeting stand to receive an accelerated payment from JetBlue in the amount of $2.50 per Spirit share. We are continuing to progress on our path to completing the transaction and look forward to our special meeting of stockholders later this month.”
Spirit has scheduled the Special Meeting of Stockholders (the “Special Meeting”) to approve the proposed merger with JetBlue for Wednesday, October 19, 2022, at 9:00 a.m., Eastern Time. All stockholders of record as of the close of business on September 12, 2022, are entitled to vote at the Special Meeting.
