In a bid that may be similar to two big fish bidding for a much smaller, low-cost fish in a large pond, an all-out war for a low-cost carrier may be going down between JetBlue Airways and Frontier Airlines, where the two could be feuding over Spirit Airlines very soon.

And JetBlue made a chess move that may inch the airline closer to sealing the deal.

On Wednesday, JetBlue Airways Executives said it made an unsolicited $3.6 billion all-cash bid for Spirit Airlines, scoffing at the February merger plans between the low-cost carrier and Frontier Group Holdings in an effort to make JetBlue Airways a stronger competitor to the so-called four legacy U.S. airlines that control nearly 80% of the U.S. passenger market.

Due to the tug-of-war, it looks like there’s a possibility that Spirit and Frontier’s initial plans could unravel due to JetBlue’s offer as the airline is the sixth-largest U.S. passenger carrier.

“The number one complaint we get is why don’t you fly to more places,” JetBlue Chief Executive Officer Robin Hayes said to Reuters. “What we want to do is create a bigger JetBlue” that can serve more consumers.

With a handle on the pandemic, which unpredictably threw a wrench in corporate and international travel, the move comes as airlines face higher fuel and labor costs.

It’s pretty obvious that the three carriers have a huge appetite for the consolidation of midsize carriers, especially those that compete for travelers who are on a budget and are looking to fly at a faster rate than business travelers.

But if JetBlue Airways gets its way, it’ll be an interesting takeover as the airline would operate Spirit under their JetBlue brand.

In fact, the airline said if the deal goes through, it’s expected to deliver $600 million - $700 million in net annual synergies, where the combined airline is projected to have annual revenue of about $11.9 billion based on 2019 revenue.

According to Hayes, JetBlue has been focusing on its growth as executives have been thinking about how to expand and compete against bigger airlines for some time now – years even. But once the Spirit-Frontier deal was announced, “it created a window of opportunity that if you don’t act in it, it’s gone,” CNBC reported.

Additionally, according to JetBlue executives, the deal would lead them to airports where larger airlines dominate the market such as Dallas/Fort Worth International Airport, Chicago’s O’Hare International Airport, and Hartsfield-Jackson Atlanta International Airport.

The merger would also reportedly create a larger growth in airports such as Florida, where Spirit is based and JetBlue runs a large operation, as well as in Las Vegas, CNBC reported.

But, to defend their move, Frontier said Tuesday that its Spirit offer “is in the best interest of consumers and shareholders and would deliver $1 billion in annual savings for consumers” arguing, “significant East Coast overlap between JetBlue and Spirit would reduce competition and limit options for consumers.”

So, in the battle for a low-cost carrier between JetBlue Airways and Frontier Airlines, who do you think will acquire Spirit Airlines?

Read more via CNBC.

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