Sink

Miami, Florida – Shares of Spirit Airlines, an ultra-low-cost carrier, dropped 10% in premarket trade on Wednesday following a U.S. judge’s decision to block the airline’s $3.8 billion merger with rival JetBlue Airways. The judge agreed with the U.S. Department of Justice’s argument that the merger would harm ticket buyers, causing Spirit’s stock to lose nearly half of its market value. Meanwhile, JetBlue shares also fell by 1.3% before the bell, in line with other airline stocks. This ruling is seen as a favorable outcome for JetBlue, as Spirit’s business performance has declined since the … Read more