Justice Department files suit to block JetBlue merger with Spirit Airlines

March 7, 2023, 11:10 AMJetBlue and Spirit airplanes at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Fla., May 21, 2022.The Justice Department on Tuesday filed a lawsuit to stop the proposed merger between JetBlue and Spirit Airlines.

"The Big Four airlines have a lock on about 80% of the market," the company said in a statement. "JetBlue's combination with Spirit allows it to create a compelling national challenger to these dominant airlines, while also ensuring [ultra low cost carrier] options remain available in overlap markets.

Spirit, the Justice Department said, is allowing cost-conscious Americans the option to travel, and by eliminating this business model, it hurts competition for consumers. "The rest of the industry -- including JetBlue --has been forced to respond to Spirit's innovations and low prices. Spirit estimates that when it starts flying a route, average fares fall by 17%; JetBlue estimates that when Spirit stops flying a route, average fares go up by 30%," the lawsuit says.

Merger must not be in the best interests of Biden or Pelosi. Is that the problem, Pelosi wasn't able to exercise her inside trading prior to the announcement?

This is terrible news! I was really looking forward to the merger!

While you're in earshot, ask him to DropTheCharges against JulianAssange , oh bastions of the free press! OfCourseYouWillNot Cowards FreeJulianAssangeNOW

its all about the super rich an there greedy deep pockets

gfy Garland you are an embarrassment

This guy is gonna let democracy die? Trump tried to do a coup and walks the streets

We Need More Competition Not Less. Pls Don’t Stop This Merger.

Why is this being blocked?

this seems like government overreach, they would only have like 8% of the total market, there's no need for this waste of tax payers money

More Biden government nonsense.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WSJ News Exclusive | JetBlue, Spirit Brace for Justice Department Lawsuit to Block Airlines’ MergerJetBlue's CEO said he expects the Justice Department will try to block its planned takeover of Spirit in the coming days Come on this is david stern blocking cp3 to the lakers all over again AndrewTangel nice article. Has the breakup not been paid already?
Source: WSJ - 🏆 98. / 63 Read more »

Justice Department sues to block JetBlue’s acquisition of Spirit AirlinesJetBlue's takeover of Spirit would create the fifth-largest airline in the country and also eliminate Spirit. why block it. One bad airline purchasing another bad one. Maybe they can create a mediocre one. LOL!
Source: CNBC - 🏆 12. / 72 Read more »

Justice Department Sues to Block JetBlue-Spirit MergerBreaking: The Justice Department filed a lawsuit seeking to block JetBlue Airways from merging with Spirit Airlines, arguing the deal would stifle competition and lead to higher fares The Justice Department worrying about things that might happen over things that have happened isn’t justice. See exhibit A; the lack of justice over Jeffery Epstein and his clients? 🦗 🦗 🦗 When trying to determine whether the deal is good or bad for the consumer, ask yourself this… Do the big four (UA, AA, DL, WN) want the merger to succeed or to be blocked? I get wanting competition in the airline business, but spirit is such a shitty airline it’s probably better for them to attach themselves to JetBlue.
Source: WSJ - 🏆 98. / 63 Read more »