廣告
香港股市 已收市

  • 恒指

    16,224.14
    -161.73 (-0.99%)
     

  • 國指

    5,746.61
    -57.25 (-0.99%)
     

  • 上證綜指

    3,065.26
    -8.96 (-0.29%)
     

  • 滬深300

    3,541.66
    -28.14 (-0.79%)
     

  • 美元

    7.8332
    +0.0020 (+0.03%)
     

  • 人民幣

    0.9238
    +0.0001 (+0.01%)
     

  • 道指

    37,910.29
    +134.91 (+0.36%)
     

  • 標普 500

    4,988.57
    -22.55 (-0.45%)
     

  • 納指

    15,417.45
    -184.05 (-1.18%)
     

  • 日圓

    0.0505
    +0.0001 (+0.10%)
     

  • 歐元

    8.3531
    +0.0187 (+0.22%)
     

  • 英鎊

    9.7190
    -0.0200 (-0.21%)
     

  • 紐約期油

    83.03
    +0.30 (+0.36%)
     

  • 金價

    2,407.20
    +9.20 (+0.38%)
     

  • Bitcoin

    64,540.14
    +829.28 (+1.30%)
     

  • CMC Crypto 200

    1,374.16
    +61.53 (+4.92%)
     

US Justice Department Sues To Block JetBlue's $3.8B Spirit Airlines Deal

Vandana Singh
·2 分鐘文章

  • The Justice Department has reportedly sued to block JetBlue Airways Corporation (NASDAQ: JBLU) and Spirit Airlines Incorporated (NYSE: SAVE), the Biden administration's latest attempt to prevent industry consolidation.

  • The complaint said JetBlue planned to remove 10% to 15% of seats from every Spirit plane, Reuters added.

  • "JetBlue's plan would eliminate the unique competition that Spirit provides—and about half of all ultra-low-cost airline seats in the industry—and leave tens of millions of travelers to face higher fares and fewer options," the Justice Department said in its complaint, filed in a Massachusetts court on Tuesday. "Spirit itself put it simply: 'A JetBlue acquisition of Spirit will have lasting negative impacts on consumers.'"

  • JetBlue has argued that the combination would allow it to better compete with large airlines that dominate the U.S. market.

  • "JetBlue competes hard against Spirit and views it as a serious competitive threat. But instead of continuing that competition, JetBlue now proposes an acquisition that Spirit describes as a high-cost, high-fare airline buying a low-cost, low-fare airline," the DOJ said, CNBC reported.

  • New York, Massachusetts, and Washington, D.C., also joined the suit.

  • After several travel disruptions over the past two years, the Biden administration has also aimed at the airline industry, even after carriers received $54 billion in payroll aid to weather the Covid pandemic.

  • If the deal closes, it would be the largest airline industry merger since Alaska Air bought Virgin America in 2016 for $2.6 billion.

  • Price Action: JBLU shares are down 0.36% at $8.37, and SAVE shares are up 4.58% at $17.14 on the last check Tuesday.

  • Photo via Wikimedia Commons

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article US Justice Department Sues To Block JetBlue's $3.8B Spirit Airlines Deal originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.