Spirit Airlines stock tanks 20% as $JBLU terminates merger plan
JBLUJetBlue(JBLU) Invezz·2024-03-04 22:05

Spirit Airlines Inc tanked 20% in premarket on Monday after JetBlue Airways Corporation terminated its 3.8billionmergeragreementwiththeultra−low−costcarrier.Thenewsarrivesshortlyafterafederaljudgeblocked3.8 billion merger agreement with the ultra-low-cost carrier. The news arrives shortly after a federal judge blocked JBLU from buying Spirit Airlines – citing the deal could increase fares for price-sensitive travellers. JetBlue and $SAVE had together appealed that ruling in line with terms of the planned transaction. Joanna Geraghty – chief executive of JetBlue said today: “We were right to compete with ...