Spirit Airlines' options are limited after a judge rejects a deal with JetBlue.

A federal judge has blocked JetBlue Airways' proposed $3.8 billion acquisition of Spirit Airlines, agreeing with the Justice Department's assertion that the deal would eliminate a competitor important to price-conscious travelers. The decision sent Spirit's shares down more than 40%, while shares of JetBlue rose 5%. The ruling marks a victory for the Biden administration in its efforts to prevent further concentration in the U.S. airline industry.

January 16, 2024
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