JetBlue and Spirit Airlines Terminate $3.8 Billion Merger Deal
JetBlue and Spirit Airlines have officially terminated their $3.8 billion merger agreement. The decision follows a federal judge's ruling in January that blocked the acquisition on antitrust grounds. The judge argued that the deal would reduce competition among low-cost carriers and lead to higher fares for consumers. Both airlines concluded they were unlikely to meet the required regulatory approvals before their deadline. As part of the termination agreement, JetBlue will pay Spirit a $69 million fee.
Official Source: https://abcnews.com/GMA/Travel/trump-announcement-expected-today-spirit-airlines-deal/story?id=132574357
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