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.
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.
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.
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.
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.
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.
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.
Spirit Airlines currently has a fleet of 168 aircraft with an average age of 6.9 years old. According to the aviation statistics and data website ch-aviation the Spirit Airlines fleet is made up of the following planes: 31 x Airbus A319-100s with 145 seats and an average age of 15.2 years.
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.
Spirit AirlinesThe budget airline received a whopping 637 complaints from customers, according to the DOT data. More than half of those issues (394) were due to flight problems, which include cancellations, delays, or any deviation from the planned schedule.
Spirit Airlines Inc. (SAVE) recently faced a class-action lawsuit over some of its hidden fees — specifically the surprise fees charged to consumers for carry-on bags after booking flight tickets with a third-party company.
KLM, officially known as KLM Royal Dutch Airlines, holds the prestigious title of being the oldest airline in the world still operating under its original name. Founded on October 7th, 1919, by a visionary group led by Dutch pilot Albert Plesman (1889–1953), KLM has a rich history that spans over a century.