The New York-based airline argues that buying Spirit will make it bigger and a stronger competitor to the biggest U.S. carriers.
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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.
Institutional investors own Jet Blue.Robin Hayes took over as the company President in 2014 and then, nearly a year later, assumed the role of the Chief Executive Officer (CEO). Robin Hayes has the top individual ownership of the airline's shares, owning more than 823,000 shares.
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.
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.
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.
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.
Is JetBlue a good company to work for as a Airline Pilot? Airline Pilot professionals working at JetBlue have rated their employer with 4.5 out of 5 stars in 18 Glassdoor reviews. This is a higher than average score with the overall rating of JetBlue employees being 3.6 out of 5 stars.
Despite comedians' digs, Spirit has improved its reliability in recent years — and is faring better than JetBlue by some measures. JetBlue came in last among 10 airlines in on-time arrivals this year through May, while Spirit ranked seventh, according to the Transportation Department's latest available data.
JetBlue Airways Corporation, stylized as jetBlue, is a United States low-cost airline headquartered in the Long Island City neighborhood of the New York City borough of Queens. It also maintains corporate offices in Utah and Florida.
American and JetBlue have argued that the partnership is pro-competitive because it allows them to offer stronger competition against Delta Air Lines and United Airlines — which dominate the Northeast market — than either airline could do alone.