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The move came weeks after a judge ruled that the $3.8 billion deal would reduce competition and harm cost-conscious fliers.
Spirit Airlines Inc tanked 20% in premarket on Monday after JetBlue Airways Corporation terminated its $3.8 billion merger agreement with the ultra-low-cost carrier. The news arrives shortly after a federal judge blocked $JBLU from buying Spirit Airlines – citing the deal could increase fares for price-sensitive travellers.
JetBlue and Spirit agreed to terminate their merger agreement after facing regulatory hurdles. The airlines issued a joint statement saying that the decision "is the best path forward.
Low-cost carrier JetBlue Airways said on Monday it has terminated its $3.8 billion merger agreement with rival Spirit Airlines , after a U.S. judge blocked the deal on anti-competition concerns.
JetBlue and Spirit Airlines had appealed a federal judge's decision to block their merger earlier in January.
JetBlue (JBLU) reported earnings 30 days ago. What's next for the stock?
JetBlue has quietly hiked the price of checking a bags — sparking outrage on social media from passengers who branded the move a greedy cash grab. The New York-based airline is now charging travelers $45 for their first stardard-size bag checked within 24 hours of departure — and $60 for a second bag.
NEW YORK--(BUSINESS WIRE)--JetBlue Airways Corporation (Nasdaq: JBLU) will participate in a fireside chat at the Citi Industrial Tech and Mobility Conference on February 22nd at approximately 1:00 p.m. ET. A live, listen-only webcast of the call will be available on JetBlue's investor relations website at the following web address: http://investor.jetblue.com For those unable to listen to the live webcast, it will also be archived on JetBlue's investor relations website under 'Archived Events &.
There aren't a lot of chances in the market quite like this one when a sophisticated investor like Carl Icahn, with his track record of successful dealings, comes to take a public interest in a stock. Known as activist investing, Icahn will acquire a significant stake in a stock, large enough to give that investor some control over the company.
When the legendary investor says he wants board seats, he won't stop until he gets them.