Earlier this month, U.S. District Court Judge William Young ruled to block the proposed merger between Spirit Airlines (NYSE:SAVE) and JetBlue Airways (NASDAQ:JBLU). The Judge cited reduced competition risks and higher ticket prices for Spirit customers as part of his decision, among other factors. The decision came about a year and a half after JetBlue agreed to acquire Spirit for $3.8 billion in July of 2022.“The Court rules that the proposed merger, as it stands, would substantially lessen competition in ...

JetBlue Airways on Friday expressed doubts over closing its $3.8 billion merger with Spirit Airlines, saying that it might not meet certain conditions required as part of the deal before the due date.Shares of Spirit tumbled 17% after the announcement, adding to their losses of about 55% this month that were sparked by a US judge’s move to block the deal.The airline said it had informed Spirit that the merger agreement might be terminated on and after Sunday due to the unmet conditions.JetBlue said it cont ...

Shares of Spirit Airlines Inc. SAVE, +1.69% tumbled 10.9% in premarket trading Friday, after JetBlue Airways Corp. JBLU, +5.33% warned that the merger may need to be terminated. JetBlue’s stock rallied 3% ahead of the open. In an 8-K filing with the Securities and Exchange Commission, JetBlue disclosed that it informed Spirit that “certain closing conditions” required by the air carriers’ merger deal “may not be satisfied” before the agreed upon deadline. As a result, JetBlue informed Spirit that “the merg ...

America's Worst Airline cityswift / Flickr Some media and research firms rate the best and worst airlines. One released by The Wall Street Journal is particularly visible because of the paper’s 3.9 million subscribers.The Wall Street Journal’s “The Best and Worst Airlines of 2023” includes nine major U.S. airlines. Its metrics include on-time arrivals, canceled flights, extreme delays, two-hour tarmac delays, mishandled baggage and involuntary bumping. The data came from Pulse, a data platform owned by An ...

Spirit and JetBlue planes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Wednesday, Nov. 1, 2023.Spirit Airlines shares jumped about 10% Monday after the budget carrier and JetBlue said after the market closed on Friday they would appeal a federal judge's ruling blocking the airlines' planned merger on antitrust grounds."Our merger agreement with Spirit remains in effect and we still have obligations under the agreement...This is a standard procedure, required u ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

JetBlue Airways Corporation (JBLU) is scheduled to report fourth-quarter 2023 results on Jan 30, before market open.JBLU has a disappointing earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average miss being 1.41%.  Let’s take a look at the factors likely to have influenced JBLU’s performance in the quarter under review.We expect passenger revenues to fall 5.7% from fourth-quarter 2022 actuals. Total revenues are now sugge ...

Will Spirit Airlines Go Under? Boarding1Now / iStock Editorial via Getty Images Two things happened to Spirit Airlines (NYSE: SAVE) recently. Each pushed its stock in different directions. U.S. District Judge William Young blocked a merger with Jetblue (NASDAQ: JBLU), saying, “The elimination of Spirit would harm cost-conscious travelers who rely on Spirit’s low fares.” The stock plunged 64%. Almost immediately, Jetblue said it would appeal the decision. Spirit’s shares soared.Between these two decisions, ...

JetBlue Airways and Spirit Airlines said Friday they will appeal a federal judge’s ruling that blocked the air carriers’ planned tie-up because the proposed merger would violate US antitrust law.The appeal came after US District Judge William Young in Boston on Tuesday sided with the Department of Justice in holding that JetBlue’s planned $3.8 billion acquisition of ultra-low-cost carrier Spirit was anti-competitive and would harm consumers.The airlines filed a notice late on Friday that they will appeal h ...

JetBlue Airways Corp. and Spirit Airlines Inc. said late Friday that they have appealed a court ruling that earlier this week blocked their planned merger. JetBlue JBLU, -1.19% and Spirit SAVE, +17.19% announced the appeal in a terse press release that provided no more details, adding only that the process is “consistent with the requirements of the merger agreement.” Wall Street was split on whether the airlines would be legally obliged to appeal the Tuesday ruling, which sided with the Justice Departm ...