JetBlue Wins 12 LaGuardia Slot Pairs for $57.5 Million as Spirit Liquidation Presses Sale
Updated
Updated · Bloomberg Law · Jul 20
JetBlue Wins 12 LaGuardia Slot Pairs for $57.5 Million as Spirit Liquidation Presses Sale
3 articles · Updated · Bloomberg Law · Jul 20
Summary
$57.5 million made JetBlue the winning bidder for Spirit Airlines' 12 LaGuardia round-trip slot pairs, with Frontier's matching $57.5 million offer designated as the backup bid.
The price landed below Spirit's earlier $69.4 million Chapter 7 liquidation estimate and far under a prior $86.7 million valuation, underscoring how regulatory uncertainty depressed the auction.
July 22 is the next key date, when a bankruptcy judge will consider the sale; FAA and Port Authority approvals are also required, and any buyer must assume Spirit's Terminal A lease and cure defaults.
Spirit shut down on May 2 after failed financing talks and rising fuel costs, leaving about $8.1 billion in debt and roughly 17,000 laid-off employees as it liquidates assets from its second Chapter 11 in two years.
JetBlue's win could expand its LaGuardia footprint from 2027, even as federal and local officials have said any slot transfer should preserve competition and serve underserved markets.