SAVE Stock Plunges as JetBlue Terminates Deal. Is It Over for Spirit Airlines?
JetBlue(JBLU) InvestorPlace·2024-03-04 23:55
Shares of Spirit Airlines (NYSE:SAVE) stock are taking a tumble after the discount airliner announced that its $3.8 billion merger with JetBlue (NYSE:JBLU) had been called off. This morning, the two companies entered into a termination agreement that voided the merger agreement that they signed in July of 2022.“We are disappointed we cannot move forward with a deal that would save hundreds of millions for consumers and create a real challenger to the dominant ‘Big 4’ U.S. airlines,” said Spirit CEO and pres ...