Deals
JetBlue’s $3.8 Billion Spirit Deal Challenged in DOJ Antitrust Suit
- DOJ sees threat to competition that will raise consumer fares
- JetBlue, Spirit say they will ‘vigorously defend’ planned deal
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The US launched a two-part effort to block JetBlue Airways Corp.’s $3.8 billion acquisition of Spirit Airlines Inc. Tuesday, filing an antitrust lawsuit and withholding certification required for the carriers to combine operations.
In a complaint filed in federal court in Boston, the Justice Department said the combination would lead to higher prices for consumers by eliminating Spirit as a deep fare discounter. Bloomberg had previously reported the move was likely to come as soon as Tuesday. New York, Massachusetts and Washington, DC, joined in the antitrust suit.