JetBlue and Spirit abandon their $3.8 billion merger
by Emma Roth from The Verge - All Posts on (#6K2YQ)
Joe Cavaretta/South Florida Sun Sentinel/Tribune News Service via Getty Images JetBlue and Spirit Airlines are throwing out their $3.8 billion merger agreement. Both airlines agreed to terminate the deal, citing legal and regulatory approvals" that were unlikely to be met" by the merger's July 2024 deadline.
A federal court blocked the deal in January over concerns that the merger would stifle competition in the airline industry. JetBlue and Spirit filed an appeal shortly after, and a court was set to hear the appeal in June. Now that the deal is off, Attorney General Merrick B. Garland calls the decision a victory for the Justice Department's work on behalf of American consumers," adding that the merger would've caused higher fares and fewer choices."
Justice Department Statements on JetBlue Terminating...