JetBlue, Spirit end $3.8 billion merger agreement after losing antitrust suit
Publishing timestamp: 2024-03-04 10:15:44
Summary
JetBlue Airways and Spirit Airlines are ending their merger agreement due to regulatory hurdles, with JetBlue losing a federal antitrust lawsuit. Spirit will receive $69 million from the deal termination. JetBlue had attempted to take over Spirit almost two years ago, but faced opposition from the Justice Department. With the deal off the table, Spirit is focusing on its financial problems alone, while JetBlue's new CEO is working to improve the company's operations and trim costs.
Sentiment: MIXED
Keywords: spirit airlines inc, airlines, jetblue airways corp, business, transportation, frontier group holdings inc, business news, raytheon technologies corp, breaking news: business,
Source: https://www.cnbc.com/2024/03/04/jetblue-spirit-airlines-merger-called-off.html