Spirit shares slipped as much as 8% while JetBlue jumped 2% as investors reacted to the latest drama surrounding the discount airline.
Topline
Federal prosecutors filed an antitrust lawsuit against JetBlue to prevent its blockbuster $3.8 billion merger with Spirit Airlines on Tuesday, preventing what would be the country’s fifth-largest airline as Spirit’s messy saga to find a strategic partner drags on.Key Facts
“JetBlue’s plan would eliminate the unique competition that Spirit provides—and about half of all ultra-low-cost airline seats in the industry—and leave tens of millions of travelers to face higher fares and fewer options,” U.
