New York-based JetBlue is in the process of trying to acquire budget carrier, a deal that has already been challenged by the Justice Department as the Biden administration seeks to crack down on consolidation it finds hurts competition.
"Despite our deep conviction in the procompetitive benefits of the NEA, after much consideration, JetBlue has made the difficult decision not to appeal the court's determination that the NEA cannot continue as currently crafted," JetBlue said in a statement. It said it has started terminating the agreement, "a wind down process that will take place over the coming months."JetBlue's deal to buy Spirit came together after JetBlue and American launched a partnership in the Northeast. The so-called Northeast Alliance, approved during the last days of the Trump administration, allows the two carriers to share passengers and revenue and to coordinate schedules.
But a federal judge ruled in May that that partnership was anticompetitive, ordering the two airlines to undo the alliance.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CoinDesk - 🏆 291. / 63 Read more »