Spirit shares sink after JetBlue casts doubt on $3.8B merger
JetBlue Airways on Friday expressed doubts about completing its $3.8 billion merger with Spirit Airlines, saying it may not meet certain conditions required as part of the deal by deadline. Spirit's stock price fell 17% after the announcement, adding to a loss of about 55% this month sparked by a U.S. judge's effort to block […]
JetBlue, Spirit vow to appeal judge’s decision to block merger
JetBlue Airways and Spirit Airlines said Friday they will appeal a judge's decision that blocked the airlines from merging. The airline filed a notice of appeal with the U.S. Court of Appeals for the First Circuit. Said on friday statement. A federal judge on Tuesday blocked JetBlue's $3.8 billion acquisition of Spirit, saying it would […]
JetBlue, Spirit Airlines to appeal judge’s ruling that blocked $3.8B merger
JetBlue Airways and Spirit Airlines announced Friday that they will appeal a federal judge's ruling that blocked the airlines' planned merger, saying it violated U.S. antitrust laws. The appeal comes after U.S. District Judge William Young in Boston ruled Tuesday that JetBlue's $3.8 billion plan to acquire ultra-low-cost airline Spirit was anticompetitive and would harm […]
Spirit Airlines shares hit record low as JetBlue deal collapse alarms investors
Sources told Reuters on Thursday that Spirit Airlines is considering refinancing its debt and not restructuring. The company's stock price has fallen since Tuesday on investor concerns about the company's financial future after a U.S. judge blocked its $3.8 billion merger with JetBlue Airways. The decline in the company's stock accelerated Thursday afternoon. The Wall […]
Spirit Airlines explores restructuring options following JetBlue deal collapse
Check out what's being clicked on FoxBusiness.com Spirit Airlines is considering options to address its financial challenges after a federal judge blocked JetBlue Airways' plan to buy the low-cost carrier, people said. Spirit plans to discuss its path forward with short-term debt maturities with its advisers, the people said. The company has about $1.1 billion […]
Boeing CEO to visit Spirit AeroSystems after door incident
Jeff Sica, founder of Circle Squared Alternative Investments, discusses whether Boeing stock is a buy for Barney & Company. Boeing CEO Dave Calhoun will visit parts supplier Spirit AeroSystems in Wichita, Kansas, on Wednesday, a company spokesperson confirmed to FOX Business. Calhoun and Spirit CEO Pat Shanahan said employees were injured after a mid-air accident […]
Biden hails court decision to block of Spirit, JetBlue merger
President Biden on Tuesday praised a federal judge's decision to block the merger of Spirit Airlines and JetBlue Airways, calling it a victory for consumers. “Capitalism without competition is not capitalism. It is exploitation,” Biden said in a statement. “Today's ruling is a victory for consumers around the world who demand lower prices and more […]
JetBlue blocked from acquiring Spirit Airlines in $3.8B deal
A federal judge on Tuesday blocked JetBlue Airways' $3.8 billion plan to buy ultra-low-cost carrier Spirit Airlines based on an agreement with the Justice Department that the deal would reduce the availability of cheap flights. of ruling The ruling by U.S. District Judge William Young in Boston marks a victory for the Biden administration in […]
Federal judge blocks $3.8B merger of Spirit, JetBlue
A federal judge on Tuesday blocked JetBlue Airways' proposed $3.8 billion takeover of Spirit Airlines, saying it would reduce competition and harm consumers. U.S. District Judge William Young said in a court filing Tuesday that the acquisition, which would make JetBlue the fifth-largest airline, “complies with the Clayton Act, which is designed to prevent anticompetitive […]
Federal court blocks proposed merger between JetBlue Airways and Spirit Airlines
See what's being clicked on FoxBusiness.com A federal judge on Tuesday blocked JetBlue Airways' proposed $3.8 billion takeover of low-cost carrier Spirit Airlines, agreeing with the Justice Department's opinion that the deal would harm the availability of low-cost flights. U.S. District Judge William Young said the proposed merger “violates the core principle of antitrust law: […]