JetBlue & Spirit Airlines will be taking the fight back to the courts as they aim to appeal the recent ruling, which blocked their merger.
In a statement, both sides said the following on this:
“JetBlue Airways Corporation (“JetBlue”) (NASDAQ: JBLU) and Spirit Airlines, Inc. (“Spirit”) (NYSE: SAVE) today reported that they have jointly filed a notice of appeal to the U.S. Court of Appeals for the First Circuit, consistent with the requirements of the merger agreement.”
JetBlue & Spirit To Take The Fight Back to the Courts with Appeal…
The proposed $3.8bn purchase has been struck down due to concerns over competition, as per reporting from CNBC.
The Justice Department has clearly got it’s point across regarding the JetBlue-Spirit merger, with them saying the following back in March:
“JetBlue’s plan would eliminate the unique competition that Spirit provides—and about half of all ultra-low-cost airline seats in the industry—and leave tens of millions of travelers to face higher fares and fewer options”.
JetBlue & Spirit Airlines in a joint statement said the following on the court ruling when it came in!
“We disagree with the U.S. District Court’s ruling.”
“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’s termination of the Northeast Alliance and commitment to significant divestitures have removed any reasonable anti-competitive concerns that the Department of Justice raised.”
“We are reviewing the court’s decision and are evaluating our next steps as part of the legal process.”
All eyes on what happens next.
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