<SEC-DOCUMENT>0000947871-22-000479.txt : 20220426
<SEC-HEADER>0000947871-22-000479.hdr.sgml : 20220426
<ACCEPTANCE-DATETIME>20220426172703
ACCESSION NUMBER:		0000947871-22-000479
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220426
DATE AS OF CHANGE:		20220426

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Spirit Airlines, Inc.
		CENTRAL INDEX KEY:			0001498710
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		IRS NUMBER:				381747023
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35186
		FILM NUMBER:		22855555

	BUSINESS ADDRESS:	
		STREET 1:		2800 EXECUTIVE WAY
		CITY:			MIRAMAR
		STATE:			FL
		ZIP:			33025
		BUSINESS PHONE:		954-447-7920

	MAIL ADDRESS:	
		STREET 1:		2800 EXECUTIVE WAY
		CITY:			MIRAMAR
		STATE:			FL
		ZIP:			33025

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JETBLUE AIRWAYS CORP
		CENTRAL INDEX KEY:			0001158463
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		IRS NUMBER:				870617894
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		27-01 QUEENS PLAZA NORTH
		CITY:			LONG ISLAND CITY
		STATE:			NY
		ZIP:			11101
		BUSINESS PHONE:		7182867900

	MAIL ADDRESS:	
		STREET 1:		27-01 QUEENS PLAZA NORTH
		CITY:			LONG ISLAND CITY
		STATE:			NY
		ZIP:			11101
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>ss965329_dfan14a.htm
<DESCRIPTION>PROXY MATERIAL
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549 </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>SCHEDULE 14A INFORMATION </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Proxy Statement Pursuant to Section 14(a)
of the </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Amendment No. ) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Filed by the Registrant <FONT STYLE="font-family: Wingdings">&#168;</FONT>
Filed by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Check the appropriate box:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 2%; padding: 0.25pt">&nbsp;</TD>
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    <TD STYLE="width: 97%; padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Confidential, For Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Soliciting Material Pursuant to &sect; 240.14a-12</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 22pt Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: center"><B>Spirit Airlines, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name of Registrant as Specified In Its Charter)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: center"><B>JetBlue Airways Corporation</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Name of Person(s) Filing Proxy Statement, if other
than the Registrant) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">Payment of Filing Fee (Check the appropriate box):</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 2%; padding: 0.25pt">&nbsp;</TD>
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    <TD STYLE="width: 2%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 94%; padding: 0.25pt">&nbsp;</TD></TR>

  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">No fee required.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title of each class of securities to which transaction applies:</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Aggregate number of securities to which transaction applies:</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Proposed maximum aggregate value of transaction:</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Total fee paid:</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Fee paid previously with preliminary materials.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Amount Previously Paid:</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Form, Schedule or Registration Statement No.:</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Filing Party:</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Date Filed:</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Filed by JetBlue Airways Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Pursuant to Rule 14a-12 under the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Securities Exchange Act of 1934, as amended</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Subject Company: Spirit Airlines, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Commission File No.: 001-35186</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Date: April 26, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>The following is an excerpt of the analyst and media conference call
and webcast by executives from JetBlue Airways Corporation (&ldquo;JetBlue&rdquo;) on April 26, 2022 regarding JetBlue&rsquo;s financial
outlook for the second quarter ending June 30, 2022 and full year 2022, and other information regarding JetBlue&rsquo;s business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Robin N. Hayes, Chief Executive Officer &amp; Director, JetBlue</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Before we get into the results for the quarter, I'd like to make a brief
comment regarding our proposal to acquire Spirit. We are very pleased by the determination of the Spirit Board that our offer could reasonably
likely to lead to a superior proposal in recognition of the compelling value for all stakeholders that JetBlue has offered. We will respect
the confidential nature of the process as we engage with Spirit under the terms of their current merger agreement with Frontier and have
nothing further to add on this topic beyond what we outlined in our conference call a few weeks ago.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Please keep in mind that the outlook and forecast that we discussed on
this call have been prepared without taking into account or consideration a possible transaction with Spirit. We remain focused on the
operation as we look to capitalize on the very robust demand environment ahead of us, while continuing to execute on our strategic initiatives
so that we are well positioned to return to profitability in the back half of the year and deliver value for our owners, customers, crew
members and communities over the long term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Duane Thomas Pfennigwerth, Evercore ISI Institutional Equities, Research
Division</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Duane here. Robin, I appreciate the brief intro comments, but when do you
expect to hear a response from Spirit? What have you learned so far since unveiling this to the world? And what do you think is taking
so long?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Robin N. Hayes, Chief Executive Officer &amp; Director, JetBlue</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Thanks, Duane. In terms of any questions you may have about the time line,
I would suggest that you</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">address those to Spirit. And I'm not really going to comment any more at
this stage other than that our</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">team is working very diligently and very hard to move things along as quickly
as possible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Jamie Nathaniel Baker, JPMorgan Chase &amp; Co, Research Division</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Without commenting on the deal specifically, just given the first half
challenges, do you stand by the leverage recovery guidance that you gave us when you announced the bid? The stand-alone outlook is obviously
worse. So just trying to quantify the need to potentially issue equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Ursula L. Hurley, Chief Financial Officer, JetBlue</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Jamie, the original plan still stands for the offer for Spirit to be a
full cash offer. Obviously, we've taken 1 step back in terms of our projections for full year profitability this year, but we still have
a strong balance sheet and our offer stands as is. Our 2022 leverage will now be slightly above 1x, which is obviously a slight change
compared to the presentation that we laid out last -- a couple of weeks ago, and that's really driven by, obviously, the April step back
here.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Unknown Analyst</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Asked and answered, but 1 for Robin I guess, when I look at this kind of
short-term cuts to capacity just seemed like these operational problems. When I think about kind of longer term, how much does M&amp;A
actually attempt to solve this labor issue as opposed to just accelerating the growth of the airline? Interested to get your thoughts
there.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Robin N. Hayes, Chief Executive Officer &amp; Director, JetBlue </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">No. Thanks, Andre. I do think -- you're right. I mean some of what you're
seeing now is us just trying to significantly derisk the summer. And we can talk about how much we should derisk it. But I think we recognize
that we need to plan conservatively. I mean, to give you a sense, I mean, this is the first time in JetBlue's history that June block
outs or ASMs will be significantly below April's. Those April and June tend to be the strongest month we have in quarter 2. So it's a
very sizable change. I think when we think about the longer term, I do think the pilot supply issue will be a governor of you in capacity
in the U.S. for a period of time. And I think when I think about M&amp;A, the reason that we believe the opportunity is for the JetBlue
and Spirit merger is it would allow us to supercharge and accelerate that organic plan, bring in a large group of pilots into the airline, creating more growth
opportunities, kind of creating a bigger destinational carrier, potentially reducing attrition. So I think that for
airlines who want to pursue an organic plan, and we&rsquo;ve been there, obviously, for many years, I do think that is
more challenging over the next few years given the pilot supply environment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Forward Looking Statements </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Statements in this presentation contain various forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities
Exchange Act of 1934, as amended, or the Exchange Act, which represent our management&rsquo;s beliefs and assumptions concerning future
events. These statements are intended to qualify for the &ldquo;safe harbor&rdquo; from liability established by the Private Securities
Litigation Reform Act of 1995. When used in this document, the words &ldquo;expects,&rdquo; &ldquo;plans,&rdquo; &ldquo;anticipates,&rdquo;
&ldquo;indicates,&rdquo; &ldquo;believes,&rdquo; &ldquo;forecast,&rdquo; &ldquo;guidance,&rdquo; &ldquo;outlook,&rdquo; &ldquo;may,&rdquo;
&ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;seeks,&rdquo; &ldquo;targets&rdquo; and similar expressions are intended to identify
forward-looking statements. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently
available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including,
without limitation, those listed in our U.S. Securities and Exchange Commission (&ldquo;SEC&rdquo;) filings, matters of which we may not
be aware, the coronavirus pandemic including new and existing variants, the outbreak of any other disease or similar public health threat
that affects travel demand or behavior, the outcome of any discussions between JetBlue and Spirit with respect to a possible transaction,
including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any such transaction
will be materially different from those described herein, the conditions to the completion of the possible transaction, including the
receipt of any required stockholder and regulatory approvals and, in particular, our expectation as to the likelihood of receipt of antitrust
approvals, JetBlue&rsquo;s ability to finance the possible transaction and the indebtedness JetBlue expects to incur in connection with
the possible transaction, the possibility that JetBlue may be unable to achieve expected synergies and operating efficiencies within the
expected timeframes or at all and to successfully integrate Spirit&rsquo;s operations with those of JetBlue, and the possibility that
such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including,
without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with
the possible transaction. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance
on these statements. Further information concerning these and other factors is contained in JetBlue&rsquo;s SEC filings, including but
not limited to, JetBlue&rsquo;s 2021 Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. In light of these risks and uncertainties,
the forward-looking events discussed in this presentation might not occur. Our forward-looking statements speak only as of the date of
this presentation or as of the dates so indicated. We undertake no obligation to update or revise forward-looking statements, whether
as a result of new information, future events, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><BR>
Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This presentation relates to a proposal which JetBlue has made for a business
combination transaction with Spirit. In furtherance of this proposal and subject to future developments, JetBlue (and, if a negotiated
transaction is agreed to, Spirit) may file one or more proxy statements or other documents with the SEC. This communication is not a substitute
for any proxy statement or other document JetBlue and/or Spirit may file with the SEC in connection with the proposed transaction. INVESTORS
AND SECURITY HOLDERS OF JETBLUE AND SPIRIT ARE URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR
ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE POSSIBLE TRANSACTION. Any definitive proxy
statement (if and when available) will be mailed to stockholders of Spirit. Investors and security holders of Spirit and JetBlue will
be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by JetBlue and Spirit
through the web site maintained by the SEC at http://www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><BR>
Participants in the Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This presentation is neither a solicitation of a proxy nor a substitute
for any proxy statement or other filings that may be made with the SEC. Nonetheless, JetBlue and certain of its directors and executive
officers may be deemed to be participants in any solicitation with respect to the proposed transaction under the rules of the SEC. Information
regarding the interests of these participants in any such proxy solicitation and a description of their direct and indirect interests,
by security holdings or otherwise, will be included in any proxy statement and other relevant materials to be filed with the SEC if and
when they become available. These documents can be obtained free of charge as described in the preceding paragraph.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><BR>
No Offer or Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This presentation shall not constitute an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>
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