The merger of JetBlue and Spirit probably would have worked out well for all involved, especially for Spirit. It would have also helped JetBlue to become more of a major player, obtaining many new routes and new aircraft. But now, it appears Spirit is shutting down for good, and with it, at least 17,000 jobs. Well done, Joe!
In March 2023, the Biden DOJ filed a lawsuit in an effort to block the merger. The judge agreed with the Biden administration and called the merger "anti-competitive". Well, now there's one less low-cost competitor. How cool is that?
Let me add that almost certainly, this merger would have been approved under the Trump administration, and thus Spirit, and those jobs, would have been saved. Also, think of the billions in equity wiped out by the rejection of that merger. Think about the many employees that owned company stock, and now they will likely be out of a job and those holdings close to worthless.
Posted by Stockjock1
1 Comment
This was highly predictable, it was obvious they were in trouble at the time.
On one hand there are companies that are real monopolies like Ticketmaster, that doesn’t help Americans and action should be taken. But you have to be smart.