Spirit Airlines Is Seeking to Convince JetBlue to Appeal Judge’s Decision to Block Merger

Spirit Airlines is seeking to convince JetBlue Airways to appeal a decision by a federal judge to block the tie-up between the sixth and seventh largest U.S. airlines, according to people familiar with the discussions.
Spirit’s shares have lost more than 60% of their value since U.S. District Judge William Young ruled on Tuesday that the company’s $3.8 billion sale to JetBlue should not proceed, siding with antitrust regulators who argued the deal would lead to higher fares for passengers.
The value of Spirit’s bonds have also plunged in value, highlighting its financially precarious position were it to be left without a deal. Its bonds went from trading around 75 cents on the dollar down to 50 cents, amid investor concerns about the company’s ability to pay some $1.1 billion in debt due in September 2025.
Read the source article at Yahoo Finance