On November 1, 2023, Spirit and JetBlue planes were spotted at Fort Lauderdale-Hollywood International Airport in Florida. However, their planned merger has hit a roadblock due to antitrust concerns, leading to an appeal by both airlines.
The proposed $3.8 billion deal struck in 2022 by JetBlue to acquire Spirit has been halted by a federal judge’s ruling. The judge cited concerns that the merger would eliminate the budget carrier and result in higher prices for consumers.
Following the news, Spirit shares saw a significant increase during after-hours trading, while JetBlue’s shares experienced a slight decline.
JetBlue has stated that they are appealing the decision in accordance with the merger agreement. The judge’s ruling highlighted JetBlue’s plans to remove seats from Spirit’s planes, further emphasizing the potential impact of the merger.
2024-01-19 17:30:59
Article from www.cnbc.com