• bitcoinBitcoin(BTC)$79,884.000.25%
  • ethereumEthereum(ETH)$2,479.391.01%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$779.188.11%
  • rippleXRP(XRP)$1.421.31%
  • usd-coinUSDC(USDC)$1.000.01%
  • solanaSolana(SOL)$103.832.11%
  • tronTRON(TRX)$0.3338810.65%
  • Figure HelocFigure Heloc(FIGR_HELOC)$1.01-2.68%
  • HyperliquidHyperliquid(HYPE)$85.720.90%
  • zcashZcash(ZEC)$1,017.14-1.56%
  • dogecoinDogecoin(DOGE)$0.0909817.47%
  • RainRain(RAIN)$0.0170592.88%
  • moneroMonero(XMR)$540.612.71%
  • USDSUSDS(USDS)$1.00-0.02%
  • chainlinkChainlink(LINK)$12.073.22%
  • whitebitWhiteBIT Coin(WBT)$73.460.35%
  • leo-tokenLEO Token(LEO)$9.240.03%
  • cardanoCardano(ADA)$0.2210443.51%
  • stellarStellar(XLM)$0.1849903.30%
  • bitcoin-cashBitcoin Cash(BCH)$257.241.58%
  • daiDai(DAI)$1.000.01%
  • uniswapUniswap(UNI)$7.1616.07%
  • Ethena USDeEthena USDe(USDE)$1.000.00%
  • CantonCanton(CC)$0.1099273.68%
  • USD1USD1(USD1)$1.000.00%
  • litecoinLitecoin(LTC)$54.437.63%
  • the-open-networkGram (prev. Toncoin)(GRAM)$1.433.44%
  • hedera-hashgraphHedera(HBAR)$0.0809804.79%
  • suiSui(SUI)$0.816.99%
  • avalanche-2Avalanche(AVAX)$7.633.42%
  • Global DollarGlobal Dollar(USDG)$1.000.00%
  • shiba-inuShiba Inu(SHIB)$0.0000065.32%
  • nearNEAR Protocol(NEAR)$2.235.57%
  • paypal-usdPayPal USD(PYUSD)$1.000.00%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • crypto-com-chainCronos(CRO)$0.0567010.95%
  • tether-goldTether Gold(XAUT)$4,427.33-0.09%
  • Circle USYCCircle USYC(USYC)$1.140.00%
  • MemeCoreMemeCore(M)$1.121.46%
  • Ripple USDRipple USD(RLUSD)$1.000.00%
  • okbOKB(OKB)$113.845.01%
  • BittensorBittensor(TAO)$234.864.80%
  • Ondo US Dollar YieldOndo US Dollar Yield(USDY)$1.140.30%
  • AsterAster(ASTER)$0.796.65%
  • aaveAave(AAVE)$135.293.73%
  • mantleMantle(MNT)$0.582.44%
  • pax-goldPAX Gold(PAXG)$4,434.43-0.05%
  • World Liberty FinancialWorld Liberty Financial(WLFI)$0.0574761.35%
  • OndoOndo(ONDO)$0.3701003.12%
TradePoint.io
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop
No Result
View All Result
TradePoint.io
No Result
View All Result

JetBlue ends American Airlines alliance to salvage Spirit deal

July 5, 2023
in Business
Reading Time: 9 mins read
A A
JetBlue ends American Airlines alliance to salvage Spirit deal
ShareShareShareShareShare

JetBlue said it will end a partnership with American Airlines in the Northeast after losing a court fight over the deal, and will instead focus on salvaging its proposed purchase of Spirit Airlines.

JetBlue Airways said Wednesday that it will not appeal a federal judge’s ruling blocking the deal with American.

YOU MAY ALSO LIKE

Marmalade Cafe files for Bankruptcy after closing Calabasas location

Lululemon shares plunge 18% as retailer slashes outlook ahead of CEO handoff

With its decision, JetBlue said the Justice Department should reconsider its opposition to a JetBlue-Spirit combination.

The Justice Department sued to block both the JetBlue-American deal and JetBlue’s agreement to buy Spirit for $3.8 billion on grounds that they would hurt competition.

The Justice Department won a trial in Boston last fall over the JetBlue-American partnership. US District Judge Leo Sorokin decided in May that the airlines must end their Northeast Alliance, or NEA, which began in 2021, because it violates antitrust law.

“Despite our deep conviction in the procompetitive benefits of the NEA, after much consideration, JetBlue has made the difficult decision not to appeal the court’s determination … and has instead initiated the termination of the NEA, beginning a wind down process that will take place over the coming months,” New York-based JetBlue said in a statement. “We will now turn even more focus to our proposed combination with Spirit.”


A judge ruled in May that JetBlue and American must end their Northeast Alliance, or NEA, which began in 2021, because it violates antitrust law.
REUTERS

Spirit Airlines plane
JetBlue agreed to buy Spirit Airlines for $3.8 billion in 2022. But the Justice Department sued to block the deal in March.
SOPA Images

Shortly after JetBlue’s announcement, American said it respects JetBlue’s decision “to focus on its other antitrust and regulatory challenges,” but it will press ahead with its own appeal in the case.

JetBlue’s decision to choose a purchase of Spirit over a geographically limited deal with American grew more likely in recent weeks, as JetBlue declined to say whether it would appeal the Northeast Alliance ruling.

While the deal with American helped JetBlue grow in one region of the country, buying Spirit would let JetBlue grow quickly to nearly 10% of the nationwide air-travel market. That would make JetBlue much closer in size to United, Delta, Southwest — and American.


American Airlines plane
American said it will press ahead with its own appeal in the Northeast Alliance case.
AP

Last month, JetBlue and American asked Judge Sorokin to let them keep selling tickets on each other’s flights, an arrangement called code-sharing, and offering reciprocal frequent-flyer benefits. The judge has not ruled on the request, but those features of the NEA will now go away.

Meanwhile, a trial has been scheduled for October in the Justice Department’s lawsuit against the JetBlue-Spirit merger. The government argues that consumers will suffer if Spirit — the nation’s biggest discount airline — is eliminated.

Credit: Source link

ShareTweetSendSharePin

Related Posts

Marmalade Cafe files for Bankruptcy after closing Calabasas location
Business

Marmalade Cafe files for Bankruptcy after closing Calabasas location

September 5, 2026
Lululemon shares plunge 18% as retailer slashes outlook ahead of CEO handoff
Business

Lululemon shares plunge 18% as retailer slashes outlook ahead of CEO handoff

September 4, 2026
America’s population of 401(k) millionaires hits record high
Business

America’s population of 401(k) millionaires hits record high

September 4, 2026
FIFA boss Gianni Infantino targeted by Times Square billboard demanding his ouster
Business

FIFA boss Gianni Infantino targeted by Times Square billboard demanding his ouster

September 4, 2026
Next Post
Does Selling My House To Pay Debt Make Sense?

Does Selling My House To Pay Debt Make Sense?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
The Ternus Era At Apple Begins, But Cook Isn’t Leaving

The Ternus Era At Apple Begins, But Cook Isn’t Leaving

September 4, 2026
Trump pushes elections bill 

Trump pushes elections bill 

September 4, 2026
Battling wildfires across Europe

Battling wildfires across Europe

September 2, 2026

About

Learn more

Our Services

Legal

Privacy Policy

Terms of Use

Bloggers

Learn more

Article Links

Contact

Advertise

Ask us anything

©2020- TradePoint.io - All rights reserved!

Tradepoint.io, being just a publishing and technology platform, is not a registered broker-dealer or investment adviser. So we do not provide investment advice. Rather, brokerage services are provided to clients of Tradepoint.io by independent SEC-registered broker-dealers and members of FINRA/SIPC. Every form of investing carries some risk and past performance is not a guarantee of future results. “Tradepoint.io“, “Instant Investing” and “My Trading Tools” are registered trademarks of Apperbuild, LLC.

This website is operated by Apperbuild, LLC. We have no link to any brokerage firm and we do not provide investment advice. Every information and resource we provide is solely for the education of our readers. © 2020 Apperbuild, LLC. All rights reserved.

No Result
View All Result
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop

© 2023 - TradePoint.io - All Rights Reserved!