AssetID: 53371839
Headline: UNCAPTIONED: Judge Blocks JetBlue-Spirit Merger
Caption: Judge Blocks JetBlue-Spirit Merger. The merger was halted on Jan. 16, CNBC reports. The blocked deal follows a lawsuit filed by the U.S. Justice Department in March 2023 to stop JetBlue's $3.8 billion acquisition of Spirit Airlines. "JetBlue plans to convert Spirit’s planes to the JetBlue layout and charge JetBlue’s higher average fares to its customers." "The elimination of Spirit would harm cost-conscious travelers who rely on Spirit’s low fares." U.S. District Court Judge William Young, via decision. JetBlue and Spirit issued a joint statement. "We continue to believe that our combination is the best opportunity to increase much needed competition and choice by bringing low fares and great service to more customers in more markets while enhancing our ability to compete with the dominant U.S. carriers." JetBlue and Spirit Airlines, via joint statement. The two carriers are weighing their options to figure out where to go from here, CNBC reports. According to JetBlue and Spirit, divestiture and other tactics should have "removed any reasonable anti-competitive concerns that the Department of Justice raised". Joanna Geraghty will take over as JetBlue's new CEO in February after Robin Hayes announced his retirement this month. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Judge Blocks,JetBlue-Spirit,Merger,Lawsuit,Blocked,Justice Department,United States,Spirit Airlines,Acquisition,Company,Elimination,Judge,Statement
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