Why Spirit Airlines Shares Are Taking Off Today

JetBlue Airways (NASDAQ: JBLU) has sweetened its offer for Spirit Airlines (NYSE: SAVE), and Spirit shares are gaining altitude as a result. Shares of Spirit traded up about 5% on Monday morning as we head into a key week in determining what the future holds for this discount airline.

A fierce takeover battle in the airline industry is nearing its conclusion, and JetBlue is trying to make sure it puts the best offer possible in front of Spirit shareholders. On Friday, Spirit holders are set to vote on a proposed combination with Frontier Group Holdings (NASDAQ: ULCC), and JetBlue is hoping to convince Spirit investors to reject that offer in favor of pursuing a deal with JetBlue.

Image source: Spirit Airlines.

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Source Fool.com