JetBlue’s CEO Says Its Offer to Buy Spirit ‘Makes the Most Sense’

JetBlue Airways has until Friday to persuade Spirit Airlines investors to spurn another offer and accept its hostile bid.

JetBlue Chief Executive Robin Hayes said the reason for chasing Spirit is clear: Buying the carrier would supercharge growth, giving it access to Spirit’s pilots, jets and deep Airbus order book. The additions would accelerate the company’s growth plans by roughly seven years, he said, bumping it from about 5% of market share in the U.S. to roughly 8%, making it a stronger challenger to the four airlines that dominate U.S. air travel.