JetBlue, Spirit ending $3.8B deal to combine after court ruling blocked their merger
JetBlue and Spirit Airways are ending their proposed $3.8 billion mixture after a court docket ruling blocked their merger.
JetBlue mentioned Monday that although each corporations nonetheless imagine in the advantages of a mixture, they felt they had been unlikely to fulfill the required closing circumstances earlier than the July 24 deadline and mutually agreed that terminating the deal was the perfect resolution for each.
The Justice Division sued to dam the merger final yr, saying it will scale back competitors and drive up fares, particularly for vacationers who rely upon low-fare Spirit.
In January, a federal district decide in Boston sided with the federal government and blocked the deal, saying it violated antitrust regulation.
The airways had appealed the ruling. The attraction listening to had been set for June.
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