Joe Cavaretta/South Florida Sun Sentinel/Tribune News Service via Getty Images
JetBlue and Spirit Airlines are throwing out their $3.8 billion merger agreement. Both airlines agreed to terminate the deal, citing “legal and regulatory approvals” that “were unlikely to be met” by the merger’s July 2024 deadline.
A federal court blocked the deal in January over concerns that the merger would stifle competition in the airline industry and raise passenger fares. JetBlue and Spirit filed an appeal shortly after, and a court was set to hear the appeal in June.
In a press release on Spirit’s website, CEO Ted Christie expressed disappointment that the company couldn’t go through with the deal “that would save hundreds of millions for consumers and create a real challenger to the dominant ‘Big 4’ U.S. airlines.”
Meanwhile,…