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JetBlue and Spirit Airlines Announce Merger Plan


JetBlue would pay shareholders $2.50 per share upfront on approval of the deal and the equivalent of ten cents per share per month starting next year — an incentive to keep them on board during what could be a protracted process. If the deal is not completed or terminated by 2024, its value could rise to as much as $34.15 per share.The combined airline will be based in New York and led by JetBlue’s chief executive, Robin Hayes. It will have a fleet of 458 aircraft, employ 34,000 employees and serve an estimated 77 million customers, the airlines said.JetBlue said it expected $600 to $700 million in …

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