UAL - Spirit Airlines Urges JetBlue To Challenge Merger Block That Dashed Hopes For Potential Fifth-Largest US Carrier | Benzinga
Spirit Airlines Inc (NYSE:SAVE) is reportedly encouraging JetBlue Airways Corporation (NASDAQ:JBLU) to appeal a recent federal judge’s decision blocking their planned $3.8 billion merger.
This move comes after U.S. District Judge William Young sided with antitrust regulators, asserting that the consolidation could lead to increased passenger fares.
The budget airline’s shares have plummeted by over 60% since the ruling.
The broader U.S. airline landscape, dominated by United Airlines Holdings Inc (NASDAQ:UAL), American Airlines Group Inc (NASDAQ:AAL), Delta Air Lines Inc (NYSE:DAL), and Southwest Airlines (NYSE:LUV), controls approximately 80% of the market.
Had the deal been successful, it would have formed the fifth-largest carrier in the U.S., contributing significantly to Spirit’s survival.
While JetBlue has yet to decide on an appeal, Reuters noted ...