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Spirit Airlines is delaying a shareholder vote on its proposed merger with Frontier Airlines scheduled for tomorrow until July 8.
The postponement extends a heated battle for Spirit.
A Spirit Airlines plane on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida.
Joe Raedle | Getty Images
Spirit Airlines on Wednesday delayed shareholder vote on its proposed merger with Frontier Airlines until July 8, hours before a meeting scheduled for Thursday so it can further discuss options with Frontier and rival suitor JetBlue Airways.
It is the second time Spirit has delayed a vote on its planned combination with Frontier and extends the most contentious battle for a U.S. airline in years.
Spirit originally scheduled Thursday’s vote for June 10 but had delayed that for the same reasons.
Both Frontier and JetBlue have upped their offers in the week before the scheduled vote approached.
“Spirit would not have postponed tomorrow’s meeting if they felt they had the votes,” said Henry Harteveldt, a travel industry consultant and president of Atmosphere Research Group. Spirit didn’t comment on whether that is the case. “This is like the end of a soap opera episode.”
Frontier and Spirit first announced their intent to merge in February. In April, JetBlue made an all-cash, surprise bid for Spirit, but Spirit’s board has repeatedly rejected JetBlue’s offers, arguing a JetBlue takeover wouldn’t pass muster with regulators.
Either combination would create the United States’ fifth-largest carrier.
JetBlue has fired back at Spirit, saying it did not negotiate in good faith, setting off a war of words between the airlines as they competed for shareholder support ahead of the vote.
Frontier and JetBlue didn’t immediately comment about the postponed vote.
Spirit shares were up about 2% in afterhours trading, while Frontier was up more than 1% and JetBlue was down 1%.
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A major obstacle to the Saudi Public Investment Fund’s buyout of the English team was concern over the Saudi state’s involvement in the team’s affairs.
An earlier buyout deal was ditched in 2020 when the consortium couldn’t prove sufficient separation between themselves and the Saudi state, which is led by Crown Prince Mohammed bin Salman.
A Premier League match between Wolverhampton Wanderers and Newcastle United at Molineux on October 02, 2021 in Wolverhampton, England.
Naomi Baker | Getty Images
A Saudi consortium led by Saudi Arabia’s sovereign wealth fund has successfully purchased England’s Newcastle United soccer team after 18 months of protracted disputes.
A major final obstacle was overcome Thursday when the Premier League received legally binding assurances from the Saudi kingdom guaranteeing “separation” and that it will not control the 128-year-old soccer club.

The purchase, for a reported £300 million ($409 million), ends British billionaire businessman Mike Ashley’s 14-year ownership of the team, and will give the Saudi consortium 80% ownership, with a further 10% going to property developers Simon and David Reuben and another 10% to British investor Amanda Staveley’s PCP Capital Partners.
A major obstacle to the Saudi Public Investment Fund’s buyout of the English team was concern over the Saudi state’s involvement in the team’s affairs.
An earlier buyout deal was ditched in 2020 when the consortium couldn’t prove sufficient separation between themselves and the Saudi state, which is led by Crown Prince Mohammed bin Salman.
Another barrier preventing the Saudi-led group from taking over Newcastle United was also lifted Thursday: A broadcasting complaint from neighboring Qatar’s Middle Eastern Premier League rights holder beIN Sport, demanding Saudi Arabia lift its four-year ban on the sport channel.
The ban, related to the Gulf kingdom’s now-resolved blockade of Qatar, is now lifted, allowing Premier League, UEFA and FIFA matches to air again. Saudi Arabia has also promised to close pirate websites in the kingdom that showed beIN content without the broadcaster’s consent.
PIF chief Yasir Al-Rumayyan said in a statement after the news was announced: “We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football. We thank the Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them.”
New owners with deep pockets
Ashley’s departure has been long awaited by fans, who believe the retail magnate’s tenure rife with cost-cutting has devastated the team’s performance and reputation. But the Saudi takeover is not without its controversy.
Saudi Arabia is well known for its poor human rights record, and its spearheading of the bombing campaign over Yemen that’s spawned what the United Nations calls one of the world’s worst humanitarian crises.
Rights organization Amnesty International urged the Premier League on Thursday to prioritize human rights issues and “sportswashing.”
“Ever since this deal was first talked about we said it represented a clear attempt by the Saudi authorities to sportswash their appalling human rights record with the glamour of top-flight football,” Sacha Deshmukh, Amnesty International’s U.K. chief executive, said in a statement.
It’s not clear whether Newcastle’s fans at St. James Park take particular issue with the Saudis’ rights record. But reports so far suggest they are looking forward to having new investors with deep pockets to rehabilitate a team that was relegated twice under Ashley’s leadership.
Alan Shearer, one of the team’s most beloved former players, tweeted on hearing the news: “Yesssssssss. We can dare to hope again.”
Newcastle’s official Twitter account posted a tweet that simply read, “Newcastle UNITED” with two heart emojis in the team’s colors.
The Saudi PIF, which sits on $430 billion in assets, has been on a mission to diversify its holdings as part of the kingdom’s Vision 2030 initiative. Some of its significant investments in the last two years include large stakes in Carnival Cruises, Bank of America, Walt Disney, Marriott International and Facebook.
A statement from the Saudi-led consortium Thursday described the “Investment Group” as “comprised of long-term, patient investors who have every confidence in the future success of the Club.””Today’s announcement is the conclusion of a thorough and detailed process that has allowed the Investment Group to arrive at a deal that benefits all stakeholders and will leave Newcastle United well-placed to pursue a clear, long-term strategy,” the statement added.
The PIF’s Al-Rumayyan will serve as nonexecutive chairman of Newcastle United. Staveley, who heads PCP Capital Partners, will have one seat on the board while Jamie Reuben will also be a director of the club, representing RB Sports & Media.
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In this articleFAn electrified logo from Ford’s luxury Lincoln brand, which is accelerating its EV plans through 2030.FordDETROIT — Ford Motor’s luxury Lincoln brand expects about half of its sales to be all-electric models by 2026, as it plans to offer new EVs across its portfolio of vehicles within the next decade, the company said Wednesday.Ford announced last month it would accelerate the rollout of EVs under a new restructuring plan, called “Ford+,” led by CEO Jim Farley. The plan aims to bring in 40% of Ford’s global sales volume via EVs by 2030. “Lincoln will usher in a new era of electrified vehicles and connected experiences globally, and we plan to deliver a full portfolio of electrified Lincoln vehicles globally by the end of the decade,” Lincoln President Joy Falotico said during a media briefing.Lincoln’s EV targets fall short of its largest American rival, Cadillac. The General Motors luxury brand has plans to offer only EVs by 2030. Neither Lincoln nor Cadillac offer a fully electric vehicle in their current lineups as they attempt to catch up to EV leader Tesla.Cadillac’s plans are part of a larger “aspiration” by GM to exclusively sell EVs by 2035.Falotico said Lincoln will continue to offer plug-in hybrid electric vehicles as well as gas vehicles as the brand transitions to EVs. She declined to set a timeline for Lincoln to reach a 100% electric lineup, saying it will depend on customer demand, specifically in its largest markets of North America and China.”We’re going all-in to be a fully electric brand, but we’ll do it as the customers adopt,” she told CNBC.Lincoln said it will debut a new EV for China and North America next year as the brand celebrates its 100th anniversary. It will join the plug-in hybrid Aviator and Corsair SUVs.Lincoln said its plans to launch four new EVs, but it did not disclose a specific timeframe for those vehicles. Falotico also declined to specify whether Lincoln’s new EVs will share names with their current four vehicles, including the well-known Navigator SUV. More
The Supreme Court late Wednesday agreed to hear legal challenges to two of the Biden administration’s Covid-19 vaccine mandates for large employers and health-care facilities.
The court said that its consideration for requests to stay those mandates would be deferred until oral argument on Jan. 7.
A sign in a restaurant window informs customers that they will need to show proof that they are at least partly vaccinated for Covid-19 to be allowed in the business on August 20, 2021 in New York City.
Spencer Platt | Getty Images
The Supreme Court late Wednesday agreed to hear legal challenges to the Biden administration’s Covid-19 vaccine mandates for large employers and health-care facilities.
The court, in an order, said that its consideration for requests to stay those mandates would be deferred until oral argument on Jan. 7.
The Supreme Court consolidated the applications of both challenges, which were considered by Justice Brett Kavanaugh and Justice Samuel Alito, and both will be heard on Jan. 7.
Lower court orders, which allowed the employer mandate and partially allowed the health-care worker mandate, will remain in effect until then.
Last week the 6th Circuit U.S. Court of Appeals reinstated the mandate for large businesses, under which employers must require their workers to either get vaccinated or face weekly testing for Covid.
Shortly after the 6th Circuit ruling, the groups challenging the large business rule asked the Supreme Court to review the case.
The group challenging the mandate include 27 states with Republican attorneys general or governors, private businesses, religious groups, and national industry associations such as the National Retail Federation, the American Trucking Associations and the National Federation of Independent Business.
The Biden administration proposed two rules Nov. 4 that together covered more than 100 million U.S. workers. The Centers for Medicare and Medicaid Services required 76,000 health facilities that take Medicare or Medicare payments to ensure their 17 million employees were fully vaccinated.
The Department of Labor also proposed its own rule affecting private employers with 100 or more workers, requiring them to get vaccinated or face weekly Covid testing by Jan. 4.
-CNBC’s Kevin Breuninger contributed to this report
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U.S. President Joe Biden signs a proclamation on the anniversary of the Americans with Disabilities Act (ADA), as (L-R) artist Tyree Brown, Sen. Pat Leahy (D-VT), former Rep. Tony Coelho (D-CA), House Majority Leader Steny Hoyer (D-MD), U.S. Vice President Kamala Harris, and House Speaker Nancy Pelosi (D-CA) look on in the Rose Garden of the White House on July 26, 2021 in Washington, DC.Anna Moneymaker | Getty ImagesPresident Joe Biden on Monday announced that some Americans experiencing long-term effects of Covid may qualify for disability resources and protections from the federal government. The announcement came as the president marked the 31st anniversary of the Americans with Disabilities Act in a speech at the White House Rose Garden with Vice President Kamala Harris. It also comes as the long-term symptoms of the virus, what some call “long Covid,” shapes up to be a major public health issue. “We are bringing agencies together to make sure Americans with long Covid, who have a disability, have access to the rights and resources that are due under disability law,” Biden said during his remarks.Under guidance issued by the Department of Health and Human Services and the Department of Justice, long Covid can qualify as a disability under federal civil rights laws if it “substantially limits one or more major life activities.” This means individuals with long Covid symptoms that rise to a disability are entitled to resources and protection from discrimination under federal disability laws.These protections include providing additional time on a test for students with difficulty concentrating, providing refueling assistance at a gas station for a customer with joint or muscle pain, and allowing a person with dizziness to be accompanied by a service animal. Businesses and state or local governments may also be required to make other modifications that accommodate a person’s long Covid symptoms that rise to a disability.An individual assessment is necessary to determine whether a person with long Covid qualifies for such protections and resources, according to the guidance. Long Covid describes a wide range of new or ongoing symptoms that can follow four or more weeks after a Covid infection, according to the Centers for Disease Control and Prevention. This includes tiredness and fatigue, joint or muscle pain, loss of taste or smell and a fever, among other symptoms. Some people can also experience damage to multiple organs including the heart, lungs, kidney, skin and brain, according to the CDC. But long Covid symptoms are not consistent and it is unknown how many people have the condition. The Biden administration also released new guidance that addresses the needs of children with long Covid who may have disabilities. The guidance, issued under the Department of Education, outlines how schools and public agencies can provide services to children and students with long Covid that rises to a disability. Other efforts to support Americans with long Covid include new guidance issued by HHS that outlines community-based resources for those with the condition, and a new website launched by the Labor Department that includes resources for workers with long Covid, such as information on employee benefits. Most people who contract Covid recover within a few weeks, but reports of long Covid symptoms have been growing among Americans. Research released by FAIR Health last month found that approximately 23% of nearly 2 million Covid patients have developed at least one “persistent or new” medical condition more than four weeks after their initial diagnosis. More
Spirit Airlines is delaying a shareholder vote on its proposed merger with Frontier Airlines scheduled for tomorrow until July 8.
The postponement extends a heated battle for Spirit.
A Spirit Airlines plane on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida.
Joe Raedle | Getty Images
Spirit Airlines on Wednesday delayed shareholder vote on its proposed merger with Frontier Airlines until July 8, hours before a meeting scheduled for Thursday so it can further discuss options with Frontier and rival suitor JetBlue Airways.
It is the second time Spirit has delayed a vote on its planned combination with Frontier and extends the most contentious battle for a U.S. airline in years.
Spirit originally scheduled Thursday’s vote for June 10 but had delayed that for the same reasons.
Both Frontier and JetBlue have upped their offers in the week before the scheduled vote approached.
“Spirit would not have postponed tomorrow’s meeting if they felt they had the votes,” said Henry Harteveldt, a travel industry consultant and president of Atmosphere Research Group. Spirit didn’t comment on whether that is the case. “This is like the end of a soap opera episode.”
Frontier and Spirit first announced their intent to merge in February. In April, JetBlue made an all-cash, surprise bid for Spirit, but Spirit’s board has repeatedly rejected JetBlue’s offers, arguing a JetBlue takeover wouldn’t pass muster with regulators.
Either combination would create the United States’ fifth-largest carrier.
JetBlue has fired back at Spirit, saying it did not negotiate in good faith, setting off a war of words between the airlines as they competed for shareholder support ahead of the vote.
Frontier and JetBlue didn’t immediately comment about the postponed vote.
Spirit shares were up about 2% in afterhours trading, while Frontier was up more than 1% and JetBlue was down 1%.
WATCH LIVEWATCH IN THE APP More
A major obstacle to the Saudi Public Investment Fund’s buyout of the English team was concern over the Saudi state’s involvement in the team’s affairs.
An earlier buyout deal was ditched in 2020 when the consortium couldn’t prove sufficient separation between themselves and the Saudi state, which is led by Crown Prince Mohammed bin Salman.
A Premier League match between Wolverhampton Wanderers and Newcastle United at Molineux on October 02, 2021 in Wolverhampton, England.
Naomi Baker | Getty Images
A Saudi consortium led by Saudi Arabia’s sovereign wealth fund has successfully purchased England’s Newcastle United soccer team after 18 months of protracted disputes.
A major final obstacle was overcome Thursday when the Premier League received legally binding assurances from the Saudi kingdom guaranteeing “separation” and that it will not control the 128-year-old soccer club.

The purchase, for a reported £300 million ($409 million), ends British billionaire businessman Mike Ashley’s 14-year ownership of the team, and will give the Saudi consortium 80% ownership, with a further 10% going to property developers Simon and David Reuben and another 10% to British investor Amanda Staveley’s PCP Capital Partners.
A major obstacle to the Saudi Public Investment Fund’s buyout of the English team was concern over the Saudi state’s involvement in the team’s affairs.
An earlier buyout deal was ditched in 2020 when the consortium couldn’t prove sufficient separation between themselves and the Saudi state, which is led by Crown Prince Mohammed bin Salman.
Another barrier preventing the Saudi-led group from taking over Newcastle United was also lifted Thursday: A broadcasting complaint from neighboring Qatar’s Middle Eastern Premier League rights holder beIN Sport, demanding Saudi Arabia lift its four-year ban on the sport channel.
The ban, related to the Gulf kingdom’s now-resolved blockade of Qatar, is now lifted, allowing Premier League, UEFA and FIFA matches to air again. Saudi Arabia has also promised to close pirate websites in the kingdom that showed beIN content without the broadcaster’s consent.
PIF chief Yasir Al-Rumayyan said in a statement after the news was announced: “We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football. We thank the Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them.”
New owners with deep pockets
Ashley’s departure has been long awaited by fans, who believe the retail magnate’s tenure rife with cost-cutting has devastated the team’s performance and reputation. But the Saudi takeover is not without its controversy.
Saudi Arabia is well known for its poor human rights record, and its spearheading of the bombing campaign over Yemen that’s spawned what the United Nations calls one of the world’s worst humanitarian crises.
Rights organization Amnesty International urged the Premier League on Thursday to prioritize human rights issues and “sportswashing.”
“Ever since this deal was first talked about we said it represented a clear attempt by the Saudi authorities to sportswash their appalling human rights record with the glamour of top-flight football,” Sacha Deshmukh, Amnesty International’s U.K. chief executive, said in a statement.
It’s not clear whether Newcastle’s fans at St. James Park take particular issue with the Saudis’ rights record. But reports so far suggest they are looking forward to having new investors with deep pockets to rehabilitate a team that was relegated twice under Ashley’s leadership.
Alan Shearer, one of the team’s most beloved former players, tweeted on hearing the news: “Yesssssssss. We can dare to hope again.”
Newcastle’s official Twitter account posted a tweet that simply read, “Newcastle UNITED” with two heart emojis in the team’s colors.
The Saudi PIF, which sits on $430 billion in assets, has been on a mission to diversify its holdings as part of the kingdom’s Vision 2030 initiative. Some of its significant investments in the last two years include large stakes in Carnival Cruises, Bank of America, Walt Disney, Marriott International and Facebook.
A statement from the Saudi-led consortium Thursday described the “Investment Group” as “comprised of long-term, patient investors who have every confidence in the future success of the Club.””Today’s announcement is the conclusion of a thorough and detailed process that has allowed the Investment Group to arrive at a deal that benefits all stakeholders and will leave Newcastle United well-placed to pursue a clear, long-term strategy,” the statement added.
The PIF’s Al-Rumayyan will serve as nonexecutive chairman of Newcastle United. Staveley, who heads PCP Capital Partners, will have one seat on the board while Jamie Reuben will also be a director of the club, representing RB Sports & Media.
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