Current:Home > MyJetBlue and Spirit abandon their decision to merge after it was blocked by a judge-Angel Dreamer Wealth Society D1 Reviews & Insights
JetBlue and Spirit abandon their decision to merge after it was blocked by a judge
View Date:2024-12-23 19:55:17
Spirit Airlines and JetBlue Airways are abandoning their plan to merge, the companies announced Monday.
A federal judge blocked the merger in January because of concerns about monopolization. Both companies said despite their goal to unify and be a low-cost competitor to major airlines, the legal obstacles wouldn't make the acquisition possible by their deadline of July 2024.
"We are proud of the work we did with Spirit to lay out a vision to challenge the status quo, but given the hurdles to closing that remain, we decided together that both airlines' interests are better served by moving forward independently," JetBlue CEO Joanna Geraghty said. "We wish the very best going forward to the entire Spirit team."
JetBlue must pay Spirit $69 million as part of their termination agreement. Spirit Airlines lost about $184 million in the fourth quarter of this year, and said it would be focusing on turning a profit.
"As we go forward, I am certain our fantastic Spirit team will continue delivering affordable fares and great experiences to our Guests," Spirit CEO Ted Christie said.
veryGood! (7)
Related
- Satellite images and documents indicate China working on nuclear propulsion for new aircraft carrier
- China raises stakes in cyberscam crackdown in Myanmar, though loopholes remain
- North Carolina Rep. McHenry, who led House through speaker stalemate, won’t seek reelection in 2024
- More U.S. companies no longer requiring job seekers to have a college degree
- King Charles III celebrates 76th birthday amid cancer battle, opens food hubs
- MLB Winter Meetings: Live free agency updates, trade rumors, Shohei Ohtani news
- A woman wearing high heels and a gold ring was found dead by hunters in Indiana 41 years ago. She's now been identified.
- Sen. Scott joins DeSantis in calling for resignation of state GOP chair amid rape investigation
- Early Black Friday Deals: 70% Off Apple, Dyson, Tarte, Barefoot Dreams, Le Creuset & More + Free Shipping
- Video shows Alabama police officer using stun gun against handcuffed man
Ranking
- Ariana Grande's Brunette Hair Transformation Is a Callback to Her Roots
- 'Past Lives,' 'May December' lead nominations for Independent Spirit Awards
- A bedbug hoax is targeting foreign visitors in Athens. Now the Greek police have been called in
- Air Force identifies the eight US crew lost in Osprey crash in Japan
- Satellite images and documents indicate China working on nuclear propulsion for new aircraft carrier
- The Excerpt podcast: Israel targets south Gaza; civilians have few options for safety
- 2 women die from shark bites in less than a week: How common are fatal shark attacks?
- Video shows research ship's incredibly lucky encounter with world's largest iceberg as it drifts out of Antarctica
Recommendation
-
Jack Del Rio leaving Wisconsin’s staff after arrest on charge of operating vehicle while intoxicated
-
Trump’s defense at civil fraud trial zooms in on Mar-a-Lago, with broker calling it ‘breathtaking’
-
Nobel laureate Malala Yousafzai urges world to confront Taliban’s ‘gender apartheid’ against women
-
In a rare action against Israel, US says extremist West Bank settlers will be barred from America
-
Trump’s economic agenda for his second term is clouding the outlook for mortgage rates
-
Americans don't like higher prices but they LOVE buying new things
-
Tuberville is ending blockade of most military nominees, clearing way for hundreds to be approved
-
Florida discontinues manatee winter feeding program after seagrass conditions improve