WASHINGTON—JetBlue Airways said Monday it had sweetened its takeover offer for Spirit Airlines to $33.50 per share in a bid to convince the ultra-low cost carrier to accept its offer over rival Frontier Airlines’ proposal.
The move is the latest salvo in a tussle to create the fifth-largest U.S. airline, helping the buyer compete with larger legacy players at a time when the industry faces labor and aircraft shortages.
