JetBlue, Spirit File Notice to Appeal Merger Denial
JetBlue and Spirit Airlines late on Friday jointly filed a notice of appeal of the Jan. 16 court decision denying the merger of the two carriers.
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JetBlue and Spirit Airlines late on Friday jointly filed a notice of appeal of the Jan. 16 court decision denying the merger of the two carriers, according to JetBlue and a filing with the U.S. Court of Appeals for the First Circuit.
JetBlue in a statement said the filing was "consistent with the requirements of the merger agreement." Neither carrier provided further information.
On Tuesday, the judge presiding over the civil antitrust lawsuit against JetBlue acquiring Spirit said in his ruling that "the consumers that rely on Spirit's unique, low-price model would likely be harmed," and that a merger of the two would "further consolidate an oligopoly by immediately doubling JetBlue's stakeholder size in the industry," and "would likely incentivize JetBlue further to abandon its roots as a maverick, low-cost carrier."
Spirit's share price was up in after-hours trading after news of the appeal broke. JetBlue's shares declined.
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