Countering an earlier rejection by Spirit Airlines of an offer to buy Spirit, JetBlue has launched a hostile takeover bid to motivate shareholders of the low-cost airline to reject a proposed acquisition by Frontier Airlines which has offered $2.9 billion. Read the rest of this entry »
Six out of every 1,000 checked bags in US airlines were reportedly lost, stolen, or mangled in the second half of 2021, according to the report conducted by LuggageHero.
The travel industry is back on track again and as the world slowly adapts and transitions to the “new normal,” more people across the globe are looking to travel this year.
But for all of the wonderful things travel’s return means for travelers, it also sages a return of mishandled luggage as a side effect of the surge.
LuggageHero, a luggage storage service locator, annually produces a report highlighting the number of bags the airline lost and mishandled last year. According to the report, a total of 1,251,209 out of 220 million checked bags, or about 6 out of every 1,000 pieces of luggage pass through the airline’s hands. These figures, according to LuggageHero are 80.6% worse than the first half of 2021.
The report also indicates the best and the worst airlines in terms of travel baggage management. Envoy Air ranked worst followed by American Airlines. From July to December last year, the two airlines have reportedly lost and mishandled 9.04 and 8.62 bags per 1,000 luggage, respectively.
Allegiant Air scores the highest in terms of safe baggage handling. For the past four years, the airline lost 1.85 bags only out of 1,000 in the second half of 2021. Allegiant Air is followed by Frontier Airlines and Hawaiian Airlines.
December appears to be the worst month for your luggage’s chances of arriving at your destination with you, while September is the safest.
JetBlue (NASDAQ: JBLU) today confirmed it has submitted a proposal to the Board of Directors of Spirit (NYSE: SAVE) to acquire Spirit for $33 per share in cash, implying a fully diluted equity value of $3.6 billion. The proposal represents a premium of 52% to Spirit’s closing share price on April 4, 2022.
Frontier Airlines and Spirit Airlines announced plans to merge in February of this year. The competing offer by JetBlue would position the airline as the national low-fare challenger to the four large dominant U.S. carriers.
“Customers shouldn’t have to choose between a low fare and a great experience, and JetBlue has shown it’s possible to have both,” said Robin Hayes, JetBlue CEO. “When we grow and introduce our unique value proposition onto new routes, legacy carriers lower their fares and customers win with more choice. The combination of JetBlue and Spirit – coupled with the incredible benefits of our Northeast Alliance with American Airlines – would be a game-changer in our ability to deliver superior value on a national scale to customers, crewmembers, communities, and shareholders. The transaction would accelerate our strategic growth and create sustained, long-term value for the stakeholders in both companies.”
JetBlue Airways is the seventh-largest airline in North America by the number of passengers carried. JetBlue is headquartered in the New York City borough of Queens; and also maintains corporate operations in Florida and Utah.