Big Law

Spirit, JetBlue Appeal Federal Judge’s Ruling That Blocks Their Proposed Merger

JetBlue Airways and Spirit Airlines on Friday said they are appealing a federal judge’s ruling earlier this week that blocks the two carriers’ planned merger on antitrust grounds.

JetBlue had planned to buy Spirit for $3.8 billion in a deal struck in 2022. A federal judge on Tuesday, however, barred that combination, saying it would eliminate the budget carrier and mean higher prices for cost-conscious consumers.

Spirit shares extended gains posted during the regular session on Friday, rising more than 10% in after-hours trading, while JetBlue’s were down slightly.

Read the source article at CNBC

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