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 Department ...

Spirit and JetBlue planes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Wednesday, Nov. 1, 2023. JetBlue Airways and Spirit Airlines on Friday appealed a federal judge's ruling issued earlier this week that blocks the two carriers' planned merger on antitrust grounds. JetBlue had planned to buy Spirit for $3.8 billion in a deal struck in the summer of 2022. A federal judge on Tuesday, however, barred that combination, saying it would eliminate the budget carrie ...

JetBlue Airways told staff this week that it will cut some routes and service as it struggles to return to profitability and grapples with the fallout of its blocked plan to buy Spirit Airlines. JetBlue said it will stop flying from New York's John F. Kennedy Airport to Portland, Oregon, and to San Jose, California, and from Westchester, New York, and Martha's Vineyard, according to an internal memo, which was reviewed by CNBC. The airline will also suspend service from New York to Ponce, Puerto Rico, and t ...

Alaska and Hawaiian Airlines planes takeoff at the same time from San Francisco International Airport (SFO) in San Francisco, California, United States on June 21, 2023. President Joe Biden's Justice Department has successfully had two airline link-ups halted in court in recent months. That doesn't necessarily spell doom for Alaska Air's plan to buy Hawaiian Airlines. U.S. District Court Judge William Young on Tuesday sided with the Justice Department and blocked JetBlue Airways' $3.8 billion attempted take ...

With more observers bracing for a future where JetBlue Airways Corp. and Spirit Airlines Inc. have to go it alone, Fitch analysts on Wednesday became the latest to cast doubt on Spirit’s prospects as a standalone airline, saying the ultra-low-cost carrier faced “serious headwinds” to improving its profits. The credit-rating firm made that assessment after a federal judge on Tuesday blocked JetBlue’s JBLU, -8.67% $3.8 billion bid for Spirit SAVE, -22.47%, arguing the proposed tie-up would stifle competition ...

Spirit Airlines is on shaky footing after JetBlue Airways' proposed $3.8 billion takeover of the budget carrier was blocked by a federal judge this week. Industry-watchers say the carrier could be forced to cut its already low fares even more. Some Wall Street analysts argue the discount carrier could have to restructure, if not liquidate. Spirit's shares fell 47% after the decision was issued Tuesday. They were down another 23% on Wednesday, notching a new record low of $5.74 a share. Spirit, whose last pr ...

JetBlue Airways planes are seen near Spirit Airlines planes at the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on May 16, 2022. Shares of Spirit Airlines fell about 23% Wednesday, its second day of double-digit losses, after a judge blocked its proposed merger with JetBlue Airways. Spirit is down roughly 60% since the decision blocking its $3.8 billion acquisition by JetBlue was handed down Tuesday, citing reduced competition. The combination would have created the country's ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. S ...

A federal judge’s decision to block JetBlue Airways Corp.’s proposed $3.8 billion acquisition of Spirit Airlines Inc. is a good outcome for JetBlue, according to J.P. Morgan. “In our minds, this represents the cleanest possible outcome for equity holders; it frees JetBlue from a costly merger we believe management and the Board were no longer wed to (unless at a markedly reduced price, a complex scenario not easily achieved, in our view),” J.P. Morgan analyst Jamie Baker, wrote in a note released Tuesday. “ ...

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. ...