Feds argue consumers would be 'better off' without JetBlue-Spirit merger

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Trial starts in Biden administration’s bid to block $3.8 billion deal

The Biden administration’s fight against consolidation in the airline industry is being tested Tuesday as lawyers for JetBlue Airways and the Justice Department squared off in court.

Executives declined to take questions about the Spirit deal. CEO Robin Hayes said it would be inappropriate while the matter was being debated in court. But if JetBlue gets its way, it will grow its fleet about 70%, repaint Spirit’s yellow planes and make them less cramped inside. “Consumers are better off with an independent Spirit, not a JetBlue intent on removing seats from planes and charging higher fares,” government lawyers argued in their pre-trial brief. They say the harm will fall hardest on cost-conscious consumers.

This isn’t the first time that the government has challenged an airline merger. In 2013, regulators sued to stop the merger of American Airlines and US Airways. The deal, which created the world’s biggest carrier, went through without a trial, however, after the airlines agreed to give up some gates and takeoff and landing rights at seven major airports.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Antitrust trial to determine fate of JetBlue-Spirit merger set to beginThe Justice Department is squaring off against JetBlue, which is seeking to buy Spirit Airlines in a deal worth $6.8 billion.
Source: washingtonpost - 🏆 95. / 72 Read more »

US seeks to block JetBlue, Spirit Airlines merger at trialThe U.S. Department of Justice heads to trial on Tuesday to urge a federal judge to block JetBlue Airways' (JBLU.O) planned $3.8 billion acquisition of ultra-low-cost carrier Spirit Airlines.
Source: Reuters - 🏆 2. / 97 Read more »

US seeks to block JetBlue, Spirit Airlines merger at trialUS seeks to block JetBlue, Spirit Airlines merger at trial
Source: Investingcom - 🏆 450. / 53 Read more »

US Seeks to Block JetBlue, Spirit Merger at TrialThe Biden administration's fight against consolidation in the airline industry will be tested Tuesday with lawyers for JetBlue Airways and the Justice Department squaring off in court.The administration is suing to block JetBlue's proposed $3.8 billion acquisition of Spirit...
Source: NEWSMAX - 🏆 16. / 71 Read more »