Consumer
Spirit Shares Plunge After JetBlue Deal Blocked on Antitrust Grounds
- Judge says $3.8 billion airline merger violates antitrust law
- Airlines say they disagree with ruling, evaluating next step
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A federal judge blocked JetBlue Airways Corp.’s $3.8 billion acquisition of Spirit Airlines Inc., saying the combination would stifle competition and raise fares for consumers.
US District Judge William G. Young sided with the federal government and said the merger would harm cost-conscious travelers by eliminating the nation’s dominant deep-fare discount airline and drive up prices across the industry.