Spirit Airlines Inc. once had two suitors to choose from; now it likely has none, and the airline’s future as an independent company is murky and unpromising.

Shares of Spirit tumbled as much as 61% on Tuesday after a federal judge in Boston backed the Justice Department’s efforts to block JetBlue Airways Corp.’s $7.6 billion takeover of the low-cost carrier on antitrust grounds. The companies’ merger agreement runs through July, and they do have a chance to appeal the ruling, but the regulatory roadblock may actually come as a relief for JetBlue and its soon-to-be chief executive officer, Joanna Geraghty. (Robin Hayes, the architect of the Spirit merger, announced last week that he would step down on Feb. 12, citing the advice of his doctor.)

QOSHE - Spirit Goes From Bidding War to Twisting in the Wind - Brooke Sutherland
menu_open
Columnists Actual . Favourites . Archive
We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Spirit Goes From Bidding War to Twisting in the Wind

2 0
17.01.2024

Spirit Airlines Inc. once had two suitors to choose from; now it likely has none, and the airline’s future as an independent company is murky and unpromising.

Shares of Spirit tumbled as........

© Bloomberg

Get it on Google Play