 JetBlue Airways Corporation JBLU, 3.58 and Spirit Airlines Inc. SAVE, 3.93 said Thursday they have agreed that JetBlue will acquire Spirit in a deal with an equity value of 3.8 billion that ends a 3-way merger battle with Frontier Group Holdings Inc. ULCC, 6.42 . JetBlue will pay 33.50 a share in cash and a ticking fee of 10 cents per month starting in Jan. 2023 through closing, creating an adjusted enterprise value of 7.6 billion. 