Why Spirit Airlines Stock Gained Altitude This Week

JetBlue Airways (NASDAQ: JBLU) isn't ready to give up on its pursuit of Spirit Airlines (NYSE: SAVE), and the doggedness gave a lift to Spirit shares. The low-cost airline's stock gained more than 10% for the week through Friday trading as investors hope for a bidding war between JetBlue and Frontier Group Holdings (NASDAQ: ULCC). In February, Spirit and Frontier agreed to merge in a deal valued at the time at about $6.4 billion, only to have JetBlue step in with its own $7.2 billion takeover offer in April.