Posted 3/5/2024, 10:00:37 AM
JetBlue-Spirit Merger Blocked by Judge; Airlines Drop Plans and Will Continue Independently
- JetBlue and Spirit airlines abandon plans to merge after being blocked by a federal judge over monopoly concerns
- Companies say legal obstacles prevent them from completing merger by July 2024 deadline
- JetBlue must pay Spirit $69 million as part of termination agreement
- Spirit lost $184 million in Q4 2022 and will focus on turning a profit
- Both airlines will continue operating independently