JetBlue abandoned purchase of Spirit Airlines for $3.8 billion by court decision
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American airlines JetBlue and Spirit Airlines terminated their merger agreement; the deal was supposed to be worth $3.8 billion. reported at JetBlue. This happened after a US federal judge blocked the deal.
“Under the agreement, JetBlue will pay Spirit $69 million, and the termination of the agreement will resolve all outstanding issues related to the transaction, and under which any claims between them will be mutually released,” the statement said.
In January, the US Federal Court blocked the acquisition of Spirit Airlines by JetBlue Airways for $3.8 billion, supporting the claim of the US Department of Justice. According to the department, the merger will lead to reduced competition in the aviation business and higher prices for consumers.
Then JetBlue and Spirit Airlines announced their disagreement with the court’s decision and their intention to consider alternative options.
JetBlue’s plans to acquire Spirit became known in the summer of 2022. The parties expected the deal to be closed no later than the first half of 2024. The media noted that if the merger was successfully completed, the fifth largest air carrier in the United States would be created.
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