After a federal judge’s ruling blocked JetBlue (JBLU) from acquiring Spirit Airlines (SAVE), the future of both carriers is uncertain. Spirit, facing a looming $1.1 billion debt due in September 2025, saw its stock drop by 20% following reports of exploring debt refinancing options post-merger collapse.
Analysts believe that Spirit may now seek other suitors, but the ruling could deter potential buyers, potentially leading to a restructuring or even a Chapter 11 filing. If the airline fails to reduce its lease costs and faces liquidation, JetBlue could benefit by acquiring some of its assets.
Despite the setback, this outcome may not be entirely negative for JetBlue, as it could present an opportunity to acquire valuable assets.
2024-01-18 15:35:39
Source from finance.yahoo.com
