US EditionUS judge blocks JetBlue from acquiring Spirit Airlines
- A federal judge has sided with the Biden administration and blocked JetBlue Airways from purchasing Spirit Airlines, stating that the $3.8 billion deal would decrease competition.
- The Justice Department sued to halt the merger, arguing that it would lead to higher fares by eliminating Spirit, the largest low-cost airline in the US.
- JetBlue and Spirit have expressed disagreement with the ruling and are contemplating whether to appeal.
151 Articles
151 Articles
JetBlue-Spirit Airlines merger blocked by federal judge
A federal judge blocked a merger between JetBlue Airways and Spirit Airlines, Tuesday, Jan. 16. JetBlue planned to acquire Spirit Airlines for $3.8 billion. However, U.S. Judge William Young in Boston agreed with the U.S. Justice Department that the deal was anticompetitive and would harm customers. JetBlue's lawyers argued against the decision calling it a "misguided" challenge to a merger of the nation's sixth-and-seventh-largest airline…
Spirit Airlines stock dips after US judge blocks $3.8 billion merger with JetBlue
(Reuters) - Shares of ultra-low-cost carrier Spirit Airlines fell 10% in premarket trade on Wednesday, a day after a U.S. judge blocked the airline's planned $3.8 billion merger with rival JetBlue Airways. Spirit's stock took a substantial hit, shedding nearly half of its market value on Tuesday after a federal judge agreed with the U.S. Department of Justice that the airline's deal with JetBlue would harm ticket buyers. JetBlue shares, whic…
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