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JetBlue and Spirit Airlines drop planned $3.8 billion merger

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JetBlue and Spirit Airlines announced they mutually agreed to terminate their merger agreement after a federal court blocked the planned deal earlier this year.

the ruling shortly after. The two airlines cited the unlikelihood of the regulatory hurdles being overcome ahead of the merger agreement’s July 24 deadline as the key reason for the decision on Monday.

Spirit’s President and CEO Ted Christie also noted the regulatory challenges and said the company was “disappointed” the deal was unable to go forward. As part of the deal termination, JetBlue has agreed to pay Spirit $69 million. Both companies have stressed that they are confident in their plans to remain independent airlines and have both said they are pushing forward plans to get back to profitability.

 

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FAA Investigating JetBlue Collision At Boston AirportI'm a Chicago-based reporter. My previous experiences include work at Chemical Watch, Becker's Healthcare, Chicago Lawyer Magazine and The Kane County Chronicle. I graduated from DePaul University with degrees in journalism and psychology. Email me at cgleesonforbes.com and follow me on Twitter caileygleeson.
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