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  "docSlug": "3a5434df92c75e6020cb29e08f3abe35",
  "documentTitle": "Spirit | Mergers and Acquisitions Presentation Deck | 29 slides",
  "authorId": "spirit",
  "authorName": "Moelis & Company",
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  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2022-05-01 00:00:00",
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  "pageNumber": 18,
  "pageCount": 29,
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  "density": "balanced",
  "nDataPoints": 2,
  "notes": "The chart uses a shaded area to represent the spread between the offer price and the market price, visually emphasizing the lack of market confidence.",
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  "slideHref": "/slides/019de072-da08-73aa-9d39-ca121b34dff7/18",
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  "deckAnchorHref": "/decks/019de072-da08-73aa-9d39-ca121b34dff7#slide-18",
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        "w": 0.92,
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      "kind": "chart",
      "text": "Spirit Share Price & Spread to JetBlue Offer Since April 5, 2022",
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      "kind": "paragraph",
      "text": "The market saw through JetBlue's proposal, and continues to trade as though the deal is unlikely to be consummated",
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      "kind": "source-note",
      "text": "Source: FactSet. 1. Market data as of May 20, 2022. Data presented from April 5, 2022 to April 29, 2022 ($33 per share offer) and from May 16, 2022 to May 20, 2022 ($30 per share offer).",
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      "kind": "title",
      "text": "JetBlue's Offer is Not Credible",
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      "evidence": "The slide explicitly frames the market's skepticism as a 'credibility gap' to undermine the validity of the offer.",
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      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The presentation provides relief by presenting the benefits of the Frontier merger.",
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