There’s a real possibility of Spirit Airlines shutting down after the government blocked its lifeline. That changes the moral math. Spirit Was Told It Had To Survive Alone Spirit Airlines had two serious suitors. Frontier wanted it. JetBlue wanted it more. JetBlue ultimately offered Spirit shareholders $33.50 per share in cash, a deal valued at $3.8 billion, and Spirit shareholders approved the merger in October 2022. This site covered every angle of the transaction because of its uniqueness and, at the time, limited airlines merger and acquisition deal flow. I held that Frontier was the better play before altering my opinion due to management that would helm either combined airline. The JetBlue option was ultimately better and was approved. Then the government stepped in. The Department of Justice sued in March 2023 , arguing that Spirit was not just another airline. It was the country’s largest and fastest-growing ultra-low-cost carrier, and its “ Spirit Effect ” forced fares lower across the market.…