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JetBlue, Spirit appeal merger ruling
JetBlue Airways, along with Spirit Airlines have jointly filed a notice to appeal the ruling blocking JetBlue’s planned takeover of Spirit.
U.S. District Judge William Young’s last week ruled the merger would damage competition and likely raise airfares, in agreement with the U.S. Department of Justice.
The $3.8 billion acquisition would be a raw deal for consumers, the ruling said.
It was welcome news for Spirit Airlines shareholders.
On the news of the appeal, its shares jumped 12%.
Spirit’s shares were over 50% lower since the court ruling.
Spirit Airlines has most to lose if the appeal fails due to its uncertain financial position.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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