The ambitious $3.8 billion merger between JetBlue Airways and Spirit Airlines has come to an abrupt end, sending shockwaves throughout the airline industry.
After weeks of legal battles and regulatory hurdles, both airlines have decided to abandon the proposed deal, citing insurmountable challenges in meeting closing conditions.
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Regulatory Challenges
There was a lot of fanfare when the merger was announced. But it quickly caught the attention of regulatory authorities, particularly the Justice Department.
Concerns were raised that the consolidation would stifle competition and lead to higher fares, particularly impacting consumers who rely on Spirit’s lower-cost offerings.
