Sam Boughedda

Investing.com — Spirit Airlines Inc (NYSE:) said late Thursday that it intends to engage in discussions with JetBlue Airways (NASDAQ:) regarding its $3.6 billion bid.

Spirit indicated that JetBlue may offer a superior proposal after consulting outside legal and financial advisers.

Frontier Group had previously agreed to the merger, but this is no longer possible due to JetBlue’s recent bid.

JetBlue has claimed it is “the best partner for Spirit.”

Spirit stated that it will continue to discuss JetBlue but that it is still bound by Frontier’s merger agreement. Spirit’s Board did not determine that JetBlue’s proposed merger was a Superior Proposal, as that term was defined in Frontier’s merger agreement.

JetBlue shares fell 1.82% on Friday while Spirit Airlines was up 0.5%.