With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today.
JetBlue And Spirit Abandon Their Decision To Merge After It Was Blocked By A Judge
A JetBlue Airways Airbus A320, left, passes a Spirit Airlines Airbus A320 as it taxis on the runway, July 7, 2022, at the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Fla. JetBlue and Spirit Airlines are ending their proposed $3.8 billion combination after a court ruling blocked their merger.
(
Wilfredo Lee
/
AP
)
Spirit Airlines and JetBlue Airways are abandoning their plan to merge, the companies announced Monday.
A federal judge blocked the merger in January because of concerns about monopolization. Both companies said despite their goal to unify and be a low-cost competitor to major airlines, the legal obstacles wouldn't make the acquisition possible by their deadline of July 2024.
"We are proud of the work we did with Spirit to lay out a vision to challenge the status quo, but given the hurdles to closing that remain, we decided together that both airlines' interests are better served by moving forward independently," JetBlue CEO Joanna Geraghty said. "We wish the very best going forward to the entire Spirit team."
JetBlue must pay Spirit $69 million as part of their termination agreement. Spirit Airlines lost about $184 million in the fourth quarter of this year, and said it would be focusing on turning a profit.
Sponsored message
"As we go forward, I am certain our fantastic Spirit team will continue delivering affordable fares and great experiences to our Guests," Spirit CEO Ted Christie said.
Copyright 2024 NPR. To see more, visit npr.org.
At LAist, we believe in journalism without censorship and the right of a free press to speak truth to those in power. Our hard-hitting watchdog reporting on local government, climate, and the ongoing housing and homelessness crisis is trustworthy, independent and freely accessible to everyone thanks to the support of readers like you.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
Senior Vice President News, Editor in Chief
