{"id":2151012,"date":"2024-01-16T19:30:02","date_gmt":"2024-01-17T00:30:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-blocks-3-8b-jetblue-buyout-of-spirit-airlines\/"},"modified":"2024-01-16T19:34:36","modified_gmt":"2024-01-17T00:34:36","slug":"judge-blocks-3-8b-jetblue-buyout-of-spirit-airlines","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-blocks-3-8b-jetblue-buyout-of-spirit-airlines\/","title":{"rendered":"Judge halts $3.8B JetBlue acquisition of Spirit Airlines"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjudge-blocks-3-8b-jetblue-buyout-of-spirit-airlines%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2151012&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">(Photo by Mario Tama\/Getty Images)<\/figcaption><\/figure>\n<p>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/abril-elfi\" target=\"_blank\" rel=\"noreferrer noopener\">Abril Elfi<\/a><br \/>4:18 \u2062PM \u2013 \u200bTuesday, January \u206416, 2024<\/p>\n<p>A \u2064federal judge has blocked the JetBlue Airways Corporation from buying Spirit\u2063 Airlines. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>On Tuesday,\u200c a \u2063federal judge took the side of the \u200cBiden \u200dadministration and blocked JetBlue from buying the airline, arguing that the $3.8 billion deal\u200d would \u200breduce competition.<\/p>\n<p>United States Judge William Young maintained that the government had proven the\u2064 merger\u200b \u201cwould substantially\u2062 lessen competition\u201d and that \u200cit violated a century-old antitrust law.<\/p>\n<p>The \u200djudge acknowledged\u2063 the Justice Department\u2019s contention that Spirit is especially significant to passengers seeking an affordable airline substitute \u200bin his more than \u200c100-page decision.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cSpirit is a small airline. \u2064But there\u200b are those who love it,\u201d he wrote. \u201cTo those dedicated customers of Spirit, this one\u2019s \u200bfor\u200d you.\u201d<\/p>\n<\/blockquote>\n<p>Shares of Spirit Airlines Inc. went down by\u2064 nearly 47% after the ruling, while JetBlue shares went up 5%.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote data-service=\"twitter\" data-category=\"marketing\" data-placeholder-image=\"https:\/\/c3.oann.com\/wp-content\/plugins\/complianz-gdpr\/assets\/images\/placeholders\/twitter-minimal.jpg\" class=\"cmplz-placeholder-element twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Not a good month \u200cfor airline stocks. <\/p>\n<p>Spirit airline <a href=\"https:\/\/twitter.com\/search?q=%24SAVE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SAVE<\/a> \u200ccollapses 46% today after\u200b a judge blocks its sale to Jet Blue. <a href=\"https:\/\/t.co\/xKKPHzG3Hr\">pic.twitter.com\/xKKPHzG3Hr<\/a><\/p>\n<p>\u2014 Michael Burry Stock Tracker \u265f (@burrytracker)\u200d <a href=\"https:\/\/twitter.com\/burrytracker\/status\/1747319457419022821?ref_src=twsrc%5Etfw\">January\u200d 16, 2024<\/a><\/p><\/blockquote>\n<p><script type=\"text\/plain\" data-service=\"twitter\" data-category=\"marketing\" async data-cmplz-src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<p>A\u200b JetBlue spokesperson said that the corporation disagreed with\u200d the ruling and was \u200bpotentially considering whether to appeal,\u200b arguing that it needs the deal to\u2064 better compete against \u2063bigger rivals that dominate the U.S. air-travel market.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWe continue\u200d to\u2063 believe that our combination\u2063 is the best opportunity to increase much needed competition and choice by bringing low fares and \u200dgreat service to more\u200c customers in more\u200b markets,\u201d JetBlue said in a statement.<\/p>\n<\/blockquote>\n<p>The Biden administration, which has\u200d worked hard to \u2062oppose\u2064 industry consolidation on the grounds that it \u201charms consumers,\u201d celebrated the judge\u2019s decision. <\/p>\n<p>The Justice \u2062Department argued in the airline case that travelers who rely on Spirit\u2019s \u201cinexpensive fares\u201d would be particularly inconvenienced if JetBlue were permitted to purchase Spirit.<\/p>\n<p>Attorney General\u2062 Merrick Garland stated that the\u200d \u201cruling\u00a0is\u200d a victory for tens of millions of \u2064travelers who would\u200c have faced \u200chigher fares and fewer choices\u201d if the deal\u2062 had gone through.<\/p>\n<p>Stay informed! Receive breaking news blasts \u2064directly to your\u2064 inbox for free.\u200b Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare \u200bthis post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Democrats \u200chave a long \u200bhistory \u200dof\u200c not only\u200b contesting \u200celections they lose, but <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-have-long-history-of-contesting-elections-when-they-lose\/\" title=\"Democrats often challenge election results when they are on the losing side\">blaming voter fraud<\/a> and even demanding the elections be overturned.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>As tensions grow in the Middle East, \u2064the threat of terror \u2063attacks \u200bhere\u2062 on U.S. soil are among some of the concerns \u200bof U.S.\u2062 officials. One \u2062America\u2019s Chief White\u200b House \u2062Correspondent Monica Paige breaks down these increasing fears.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<div class=\"entry-content\">\n<p>with Kalen D\u2019Almedia<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Tesla\u00a0CEO Elon\u200b Musk said he would be uncomfortable growing the automaker to be a\u200b leader in AI and robotics without having at least\u200b 25% voting control of the \u200ccompany.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Google is set to go before a \u2063federal jury in \u2063Boston on Tuesday over accusations that its processors infringe a computer scientist\u2019s patents.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>OpenAI and its\u200d financial backer Microsoft were sued \u2062in Manhattan federal court by a pair \u200dof nonfiction authors who say the companies misused their work to train the AI models behind AI-based services.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SpaceX sued a U.S. labor board to block its case accusing the\u2063 company of\u200d illegally firing employees calling \u200bCEO Elon Musk \u201ca\u2063 distraction \u2064and embarrassment.\u201d<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> Why\u200c does JetBlue argue\u200b that the deal with\u200b Spirit Airlines \u200dis necessary \u200cfor them \u200bto compete \u2064against larger \u2063rivals in the U.S. \u200cair-travel market<\/h2>\n<p><span>  \u200dFederal \u2062Judge Blocks JetBlue from Buying Spirit Airlines<\/p>\n<p>On Tuesday, a federal judge took the side of the Biden administration and \u200bblocked JetBlue Airways Corporation from purchasing Spirit Airlines, citing concerns about reduced competition. United States Judge William Young stated that the $3.8 billion deal would substantially lessen \u200bcompetition and \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-republicans-warn-esg-policies-may-violate-antitrust-laws-demand-documents-from-investor-group\/\" title=\"House Republicans Warn ESG Policies May Violate Antitrust Laws, Demand Documents from Investor Group\">violate antitrust laws<\/a> \u200dthat have been in place\u200d for over a century.<\/p>\n<p>In his more than 100-page decision, Judge Young acknowledged \u200dthe\u2064 importance\u2063 of Spirit Airlines\u2064 to passengers seeking affordable alternatives, stating, \u2063&#8221;Spirit is a \u2064small airline. \u2063But\u2062 there are those who love it. \u2063To\u200b those dedicated customers of Spirit, this one&#8217;s\u2064 for you.&#8221;<\/p>\n<p>Following the ruling,\u2062 shares\u2062 of Spirit Airlines Inc. dropped by nearly 47%, while JetBlue shares experienced a 5% increase. This ruling further adds\u200d to the challenging month for airline stocks.<\/p>\n<p>A spokesperson for JetBlue expressed disagreement with the ruling and stated that the company is potentially considering whether to \u200dappeal. They argue that the deal is necessary for JetBlue to better compete \u200dagainst \u200clarger rivals \u200cthat dominate the U.S. air-travel market. JetBlue believes that\u2064 the combination of the\u200d two airlines would provide much-needed competition and choice, bringing \u2063low fares and great service to more customers in various markets.<\/p>\n<p>The Biden administration, which\u200c has actively opposed industry consolidation due to its \u2063negative impact on consumers,\u2063 celebrated the judge&#8217;s decision. The Justice Department argues that\u200d travelers who rely on\u2062 Spirit&#8217;s inexpensive fares \u200cwould \u200bbe greatly \u200dinconvenienced if JetBlue\u200d were allowed to purchase Spirit.<\/p>\n<p>Attorney General Merrick \u200dGarland stated that the ruling is a\u2064 victory for tens of\u200c millions of travelers who would have\u200c faced \u200chigher fares and fewer choices if \u2063the deal \u2064had gone \u200bthrough.<\/p>\n<p>This decision marks a\u200d significant setback for JetBlue&#8217;s expansion \u2062plans and highlights\u2063 the ongoing efforts by the \u2063Biden administration \u200bto \u200bpromote competition \u200dand \u200dprotect consumer interests in the airline industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A federal judge blocked JetBlue Airways from purchasing Spirit Airlines, siding with the Biden administration. The judge argued that the $3.8 billion deal would decrease competition<\/p>\n","protected":false},"author":2196,"featured_media":2151013,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2151012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2151012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2196"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2151012"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2151012\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2151013"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2151012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2151012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2151012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}