JetBlue and Spirit Airlines are gearing up for a legal battle to appeal the recent federal court decision that blocked JetBlue’s planned $3.8 billion acquisition of Spirit. U.S. District Judge William Young ruled against the merger deal, earlier this week.
He had concerns about reduced competition and potential harm to cost-conscious consumers.
As a result, Spirit shares experienced significant turbulence throughout the week.
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Merger Deal
The terms of the merger agreement struck in July 2022, mandates both carriers to “contest, defend, and appeal” rulings such as the recent federal court decision.
JetBlue initially pursued Spirit to bolster its growth plans. The airline planned to integrate Spirit’s planes and pilots, in order to compete with larger carriers dominating the U.S. airline industry.
