Spirit Airlines Inc. has decided not to pursue JetBlue’s buyout offer and will continue a merger with Frontier Airlines, writes Emon Reiser for Philadelphia Business Journal.

“Our board unanimously determined that JetBlue’s proposal does not constitute a ‘superior proposal’ under Spirit’s existing merger agreement with Frontier,” Spirit Chairman Mac Gardner wrote in the letter to JetBlue. “We believe a combination of JetBlue and Spirit has a low probability of receiving antitrust clearance so long as JetBlue’s Northeast Alliance (NEA) with American Airlines remains in existence.”

The DOJ, six states, and the District of Columbia have sued to block the NEA fearing it will impede competition in Boston and New York City and harm air travel across the country, the letter stated.

Spirit agreed Feb. 7 to merge with Frontier Group Holdings out of Denver. Frontier would take 51% control over the combined company.  

If the deal is approved, it would combine two of the four largest carriers at Philadelphia International Airport.

On April 5, JetBlue submitted an unsolicited competing bid for Spirit priced at $3.6 billion.

The Spirit-Frontier deal is expected to close in the second half of 2022.

Read more at Philadelphia Business Journal about Spirit Airlines’ rejection of a JetBlue Airways offer.

Here’s a Yahoo Finance report on Spirit’s decision to reject JetBlue’s offer.