JetBlue Agrees to Buy Spirit Airlines for $3.8 Billion

JetBlue Airways Corp. agreed to buy Spirit Airlines Inc. for $3.8 billion, a combination that would create the fifth-largest U.S. carrier.

The deal announced Thursday comes after The Wall Street Journal reported that the two sides were close to sealing an agreement after a monthslong bidding war between JetBlue and Frontier Group Holdings Inc.

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