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Federal Judge Blocks JetBlue’s $3.8 Billion Acquisition of Spirit Airlines – Cash My Currency- Financial Updates | Business Blog Post | Financial Guest Posting Services

Federal Judge Blocks JetBlue’s $3.8 Billion Acquisition of Spirit Airlines

Federal Judge Blocks JetBlue’s .8 Billion Acquisition of Spirit Airlines

Updated Jan. 16, 2024 2:01 pm ET

A federal judge on Tuesday blocked JetBlue Airways from acquiring Spirit Airlines, agreeing with the Justice Department that the $3.8 billion deal would eliminate a competitor important to price-conscious travelers. 

The Justice Department said JetBlue’s purchase of Spirit would remove an ultra-low-cost carrier that benefits travelers and puts pressure on other airlines to keep down fares. Removing Spirit as a rival would free JetBlue to raise prices by as much as 30%, the government said. JetBlue is the country’s sixth-largest carrier, and Spirit ranks seventh.

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