Low-Cost Air Carriers JetBlue and Spirit Airlines End $3.8bn Merger Deal After US Judge Blocks Acquisition
New York, USA – Low-cost air carriers JetBlue Airways and Spirit Airlines have terminated their $3.8 billion merger agreement, following a previous ruling by a US judge in January that blocked the deal due to anti-competition concerns. The merger, if successful, would have created the United States’ fifth-largest carrier and would have helped Spirit Airlines secure its survival. However, the deal faced obstacles ever since a Boston judge warned that it would harm consumers by reducing competition. JetBlue CEO Joanna Geraghty informed employees through an internal note seen by Reuters that the likelihood of obtaining … Read more