JetBlue Airways may have lost its court battle with the Justice Department over the proposed merger with Spirit Airlines, but it’s not such a bad outcome for the low-cost carrier all things considered. ...

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This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: A US judge has blocked JetBlue's acquisition of Spirit Airlines. A US federal judge on Tuesday ruled against JetBlue's $3.8 billion takeover of low-cost carrier Spirit Airlines, saying that the deal would reduce competition. The decision comes after the US Justice Department last year sued to block the merger, noting the combi ...

A federal judge has blocked the proposed $3.8 billion acquisition of Spirit Airlines (SAVE -45.43%) by JetBlue Airways (JBLU 7.16%), sending both carriers back to the drawing board to pursue growth. JetBlue's options as a stand-alone look rosier than Spirit's, with investors sending Spirit shares down more than 50% while JetBlue stock was in the green Tuesday afternoon.Competitive concerns resonate in courtJetBlue and Spirit have been a turbulent match from the beginning. In 2022, Spirit had agreed to be ac ...

Key TakeawaysSpirit Airlines stock was down about 50% in afternoon trading after a judge blocked a planned merger with JetBlue.The U.S. Department of Justice had sued to block the deal, saying it would stifle competition and hurt consumers.Judge William Young said "cost-conscious" travelers would suffer if the deal went through.Spirit Airlines (SAVE) shares dumped more than 50% on Tuesday after a judge blocked its proposed merger with rival JetBlue (JBLU).JetBlue’s planned $3.8 billion acquisition of discou ...

A federal judge on Tuesday blocked JetBlue Airways’ proposed $3.8 billion acquisition of budget carrier Spirit Airlines, agreeing with the Justice Department that the deal would hurt the availability of low-cost air travel tickets. U.S. District Judge William Young wrote that the proposed merger "does violence to the core principle of antitrust law: to protect the United States’ markets – and its market participants – from anticompetitive harm."Spirit’s stock plunged on the news, falling more than 51% durin ...

A federal judge on Tuesday blocked JetBlue Airways’ planned $3.8bn acquisition of ultra-low cost carrier Spirit Airlines after agreeing with the US justice department the deal would reduce the availability of low-priced air tickets.The ruling by William Young in Boston marked a victory for the Biden administration in its efforts to preserve competition among the lowest cost airlines to ensure that air travel remains affordable for more US consumers and raised doubts about another recently proposed deal.Youn ...

JetBlue is the country’s sixth-largest carrier, and Spirit ranks seventh. Photo: Wilfredo Lee/Associated PressA federal judge on Tuesday blocked JetBlue Airways from acquiring Spirit Airlines , agreeing with the Justice Department that the $3.8 billion deal would eliminate a competitor important to price-conscious travelers. The Justice Department said JetBlue’s purchase of Spirit would remove an ultra-low-cost carrier that benefits travelers and puts pressure on other airlines to keep down fares. Removing ...

ToplineSpirit Airlines’ stock plunged as much as 60% on Tuesday following news that a federal judge blocked its $3.8 billion acquisition at the hands of JetBlue Airways, scoring a win for the Justice Department, which sued JetBlue last year to stop the acquisition on antitrust grounds.The merger was first announced in July 2022. (Photo by Smith Collection/Gado/Getty Images)Gado via Getty ImagesKey FactsU.S. District Judge William G. Young said the proposed acquisition of Spirit would have eliminated the air ...

JetBlue Airways stock was rising and Spirit Airlines tumbled after a federal judge Tuesday blocked the proposed merger of the two airlines. ...