JetBlue announces offer to buy Spirit Airlines

JetBlue Airways announced Thursday a plan to buy Spirit Airlines – a deal that if completed would create the United States' fifth-largest airline.

The announcement comes a day after Spirit ended a deal to merge with Frontier airlines, according to CNN.

JetBlue had been pursuing a hostile bid for Spirit while the airline tried to get shareholders' approval for a lower-priced deal with Frontier, the news outlet also reports.