Spirit Airlines CEO Ted Christie isn’t harboring any resentment over the failed merger with JetBlue Airways, a deal that was thwarted by the Justice Department and ultimately abandoned. Speaking on the company’s earnings call, which revealed disappointing numbers causing a nearly 10% drop in Spirit shares, Christie mentioned that he was addressing listeners from Spirit’s new headquarters in Dania Beach, Florida.
“We initially thought the new facility might bear a blue branding, but we’re now proudly embracing our iconic Spirit yellow,” he quipped. Reflecting on the failed merger with JetBlue, Christie expressed his belief that the court’s decision to block the deal was a misinterpretation of both evidence and law.
The federal government’s antitrust lawsuit led to the demise of the $3.8 billion merger. Christie pointed out that the real threats to airline competition come from industry giants like American Air Lines, Delta Airlines, United Airlines, and Southwest Airlines, rather than from smaller players like Spirit and JetBlue.
Highlighting the consolidation process and shareholders’ decisions, Christie acknowledged that despite advocating for a merger with Frontier initially, shareholders opted for JetBlue’s offer. However, he emphasized the need for Spirit to focus on its independent survival moving forward.
“While the failed merger was the choice made by our shareholders, it’s now an opportunity for us to forge ahead,” he concluded.
