Spirit Airlines could be owned by JetBlue or Frontier: former United Airlines CEO

Former long-time United Airlines CEO Oscar Muñoz says consolidation in the airline industry makes sense, and there is a pathway for Spirit Airlines to be owned by JetBlue or Frontier Airlines. "If I was at United, I would be supportive of this," Muñoz said on Yahoo Finance Live. "Consolidation will help the level of service. There likely may be concessions. One of the two [carriers] should be able to pull it off." Last week, JetBlue shocked Wall Street by offering to buy Spirit for $3.6b for $33 a share. The bid counters one from Frontier in February, which put forth a $25 a share bid. Frontier has not upped its bid, and there hasn't been any indication it will. JetBlue CEO Robin Hayes has ramped up his pressure on Frontier Airlines, saying his company's surprise deal for low-fare rival Spirit Airlines makes much more sense. "A bigger JetBlue is profoundly good and better for competition than a Spirit and Frontier combination," Hayes said. Spirit Airlines said this week it will hold talks with JetBlue.<br/>