JetBlue and Spirit Airlines terminate $3.8 billion merger agreement
Source: Spirit
JetBlue Airways and Spirit Airlines on Monday said they were terminating their merger agreement weeks after losing a federal antitrust lawsuit that challenged the deal.
A federal judge blocked the attempted merger in January after the Justice Department sued to bar the deal last year alleging the acquisition would stifle competition in the airline industry and eliminate Spirit as a discount alternative for price-conscious travelers.
JetBlue and Spirit appealed the judge’s decision a couple of days later, but JetBlue noted the appeal was required under the terms of the merger agreement.
Shares of JetBlue jumped 7% in premarket trading Monday.
Read more: https://www.cnbc.com/2024/03/04/jetblue-spirit-airlines-merger-called-off.html
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