New York-based JetBlue's acquisition of Spirit faced a high hurdle with regulators from the start, and the airline on Monday said it expected DOJ action this week.
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In July 2022, while this initial DOJ antitrust lawsuit was still pending, JetBlue finalized its ignominious hostile takeover of Spirit Airlines — a deal which was initially rejected by Spirit's board of directors based on antitrust concerns.
Spirit Airlines shareholders voted Wednesday to approve a merger with rival JetBlue Airways, a deal that would create the nation's fifth-largest carrier but one that will face scrutiny from federal regulators.
DOJ sues to block JetBlue from buying Spirit Airlines The Biden administration sued on Tuesday to block the $3.8 billion purchase, saying the deal would reduce competition and drive up air fares for consumers.
Choosing between Spirit vs JetBlue for your next flight? The quick answer is that Spirit is an ultra-low-cost airline with limited comforts and questionable customer service. JetBlue is a low-cost airline known for its quality in customer service and comfortable cabins.
High Growth Earnings: JBLU's earnings are expected to grow significantly over the next 3 years. Revenue vs Market: JBLU's revenue (4.7% per year) is forecast to grow slower than the US market (7.7% per year). High Growth Revenue: JBLU's revenue (4.7% per year) is forecast to grow slower than 20% per year.
Institutional investors own Jet Blue. The top individual JetBlue shareholders are current company executives and a former board member. JetBlue's top institutional investors include Fidelity Management Research Company (10.5% of total shares), the Vanguard Group (9.0% of total shares), BlackRock Inc.
The big four US airlines - American Airlines, Southwest Airlines, Delta Airlines and United Airlines - have by far the most capacity, accounting for 74% of US airline seats, a total of just under 73 million between them.
In the battle of airline heavy-hitters, JetBlue shines as a clear favorite for many who value a comfortable flight with spacious seating and hours of entertainment at the ready. However, for those looking for a global network of flights and earning opportunities, Delta is the undisputed champ.
March 7, 2023, at 10:58 a.m. The Biden administration sued to block JetBlue Airways' $3.8 billion purchase of Spirit Airlines, saying Tuesday that the deal would reduce competition and drive up air fares for consumers.