Spirit Airlines Inc. shareholders are deciding the fate of the budget carrier Wednesday, voting whether to merge with rival Frontier Airlines as JetBlue Airways Corp. tries to wrest Spirit away.
After being delayed four times, the vote is proceeding Wednesday. With a higher offer from JetBlue on the table, some Spirit investors, including some of its biggest shareholders, have withheld support for the Frontier deal. Barring any last-minute changes, investors aren’t expected to approve the merger, according to people familiar with the matter. Spirit plans to reconvene its virtual meeting and announce the results later this afternoon.