i talked to robin hayes. i said why are you doing this now? we are not hugely surprised here he said we wachbnt to take thiso the investor and the shareholders layout the story i said has the spirit board been engaging he said no we have been disappointed by the lack of engagement they did not do their fiduciary duty they twice have been rejected by spirit's board the spirit board has essentially said they do not believe that the jetblue deal is superior to frontier they are questioning if the doj would approve it they don't think it would go through even with concessions that jetblue said it would like to make or it is willing to make if that is necessary to get the deal approved. what does this set up? it means we have a couple of things happening as you look at shares of spirit and jetblue and frontier which has that merger agreement already with spirit. we are going back to april 6th when jetblue made the counteroffer to the jetblue or to the spirit-frontier deal. do june 10th is when the shareholders are scheduled to vote on the frontier

robin hayes made it clear. they have not had a full engagement with spirit this is not the case where they share their opinions and views and their thoughts in terms of why a deal would make sense. he believes spirit board as essentially made up its mind already. he is hoping that spirit investors can force the management of spirit to come back to the table and not see a final approval go through with spirit and frontier. remember, june 10th is when spirit shareholders will vote on the deal with frontier and spirit >> phil lebeau launching a hostile takeover bid. phil, thanks for waking up. >>> let's go worldwide julianna tatelbaum is tracking the early trade over in europe julianna >> frank, good morning we have only been open two hours in europe. it has been a volatile session we opened up in the red after disappointing data out of china overnight. showing the impact of the covid lockdowns has been more severe than many expected now we are trading in the green. the positive momentum is building over the last

. >> when i talked to robin hayes, he said you guys didn't do your due dillience and we've been disappointedk of engagement we don't think the spirit board did its fiduciary duties and they have hidden behind the regulatory argument as a smoke screen basically, you didn't do their job, and what to you say to that >> i think they're putting misinformation in the market we engaged jet blew and spevent the better part of a monthsd are month back and forth with them and regulatory advisers. we hoped up the data room to them and we had an extensive call with them and i participated with a del jens call with myself, with robin and their cfo and they asked us all of the questions they wanted to ask ask us about the business and at the end complimented us, and we felt the process was constructive and we're surprised and frustrated that they're spreading that misinformation. our board reviewed time and effort and determined it was not superior. >> there are a lot of people that say forget about jetblue, the merger between spirit and frontier doesn't have much of a chance of getting through this admin

robin hayes, look, you guys are muddying the waters here with a bunch of malarkey that is not true?and i have spoken over the last month, and yes, i am frustrated by the commentary, to imply that our board didn't go through its diligence is a misstatement, and quite frankly, it's an insulting. we have an independent board l here that's done considerable work are on the surface, we'd love to have a competitive offer but theis is dee lucery and to imply otherwise, we think is insulting >> would you admit this likely ends up in court whether it's frontier or spirit, claor jetble >> i couldn't even handicap that, phil i think we have a very good story to tell with the frontier transaction. we encourage our shareholders to vote yes and we will proceed with the process with the doj. we're in exchange of information with that as well, and we think we have a great story to tell. and when the facts come out about what this merger will do for the competitive space, we think it's going to be a real positive thing >> ted christie, ceo of spirit airline, busy week, ted, thank you very much for j

robin hayes will tell you this makes sense. we believe it's good for us, good for the consumer.of people >> airline i fnflation is throu the roof a flight to cincinnati is $1,000 i've never seen it to be the cost >> it was a costly trip for me to change my flight and come in here last night. >> and the department of justice is not going to see to a deal. >> so good to see you. >> good to be here >>> we'll talk twitter with the former fcc chair ajit pai. elon musk was tweeting a lot oaf the weekend. we're back in a minute ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire when you need help it's great to be in sync with cus

you talk about the fall, robin hayes staid we're not entirely comfortable with the fall.ke a look at gas prices because this is the other way. now this is where the bulk of americans will be traveling this weekend. 39 million people are expected to be taking a trip of at least 50 miles, according to aaa, and the average gas price right now is at a record high of $4.60 that is the average nationally obviously, in some areas, it is much higher. that is up, by the way, $1.57, compared to the same time last year bottom line, it is going to be costlier for people to take a trip this holiday weekend, guys in. >> phil, you going anywhere fun? >> well, i've already done a fe trips, yes few places out west. >> okay. we'll see how much that costs, appreciate it. phil, nice to see you. we're going to continue this conversation, becky? >> our next guest says we are in for a record travel season despite the high prices. let's bring in brett keller. how much higher, how much more expensive have things gotten >> you heard it just a few minutes ago. flights are running up 40% year-over-y