Why Spirit Airlines Shares Are Taking Off

Spirit Airlines SAVE shares are trading higher following an NYT report suggesting JetBlue Airways Corp JBLU has made a $3.6 billion offer for the company.

The report indicated JetBlue's offer represents a 40% premium to Frontier Group Holdings Inc ULCC's previous offer.

Spirit Airlines, Inc. provides airline services. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of Dec. 31, 2021, the company had a fleet of 173 Airbus single-aisle aircraft. 

At the time of publication, shares of Spirit Airlines were up 22.42% at $26.42. The stock has a 52 week low of $18.26 and a 52-week high of $39.19.

JetBlue's stock was down 7% at $13.63.