The antitrust trial between JetBlue and the Justice Department over the proposed merger with Spirit Airlines has begun. JetBlue missed earnings estimates and forecasted a worse-than-expected loss for the quarter. The US government argues that the acquisition of Spirit Airlines will lead to higher fares and fewer flights. JetBlue's stock has dropped to its lowest point in over 10 years.
Spirit Airlines CEO defends JetBlue merger in US antitrust trial https://t.co/ty2XcMr9uo https://t.co/sXsIKSHZdA
My early $SAVE / $JBLU trial reactions: JetBlue's cross of Spirit's CEO is *very* strong. Keys: DOJ has been repeatedly flagging Spirit's initial resistance to a JetBlue deal based on antitrust concerns. CEO makes clear, with specific examples in support, that... 1/x
The DOJ is looking to break up the Spirit-JetBlue deal. Citi Airline analyst Steve Trent says: "I don't have enough confidence that [the deal] is going to go through that I'm actually incorporating this Spirit acquisition into our JetBlue estimates at this juncture." https://t.co/txxFp35lJj
JetBlue went to court yesterday, to defend its proposed merger with Spirit. And maybe to defend its own existence. https://t.co/Vqy22ffQN1
JetBlue is defending its proposed $3.8 billion takeover of Spirit Airlines — which would create America's fifth-largest airline — over the Justice Department's antitrust objections. https://t.co/7X8mTgkeKx
JetBlue's future is on the line in Spirit Airlines court case https://t.co/Vqy22ffQN1
"JetBlue/Spirit: DOJ Questions Airlines CEO About Previously Expressed Antitrust Concerns About Deal" $SAVE $JBLU h/t @HanqingC & @jbliss1987
JetBlue forecasts ongoing losses, Spirit antitrust trial begins https://t.co/drR1vbITDN
WATCH: The US argued that JetBlue Airways' planned $3.8 billion acquisition of Spirit Airlines will lead to higher fares and fewer flights, as the Justice Department urged a federal judge to block the deal at the start of a closely-watched antitrust trial https://t.co/7a67enDsK6 https://t.co/4cxwOUtUrZ
The US government kicked off its antitrust case against JetBlue in federal court, arguing that the acquisition of ultra-low-cost carrier Spirit Airlines will lead to higher fares and fewer flights https://t.co/QKFbCgdVw7 https://t.co/lBSobt6eAN
$JBLU | JetBlue's Stock Drops To Lowest Point In More Than 10 Years, Other Airlines Could Be Next
Antitrust trial pits JetBlue against Biden administration https://t.co/OXFx78F0WT
WATCH: The US government kicked off its antitrust case against JetBlue in federal court, arguing that the acquisition of ultra-low-cost carrier Spirit Airlines will lead to higher fares and fewer flights https://t.co/7a67enE0zE https://t.co/7KI13Dqu1i
The US argued that JetBlue Airways' planned $3.8 billion acquisition of Spirit Airlines will lead to higher fares and fewer flights, as the Justice Department urged a federal judge to block the deal at the start of a closely-watched antitrust trial https://t.co/QKFbCgdVw7 https://t.co/RcDvChRj4D
JetBlue’s $3.8 billion deal to acquire Spirit Airlines is an effort to get rid of a low-cost rival and boost ticket prices across a wider network of flights, the US says https://t.co/aKh9Zv5uh4
JetBlue Shares Eclipse 12-Year Low After Forecasting Fourth Quarter Losses https://t.co/8W7sjthpfL https://t.co/g6GZjg6fFc
.@JetBlue faces off with @TheJusticeDept in antitrust trial that starts today over airline's proposed acquisition of @SpiritAirlines. Shares of both at multi-year lows as troubles mount. https://t.co/BKjjBRIAGT
JetBlue sinks to 12-year low as airline forecasts more losses, Spirit antitrust trial begins https://t.co/8a1cQmI423
JetBlue sinks to 12-year low as airline forecasts more losses, Spirit antitrust trial begins https://t.co/rLuFpjScGZ
JetBlue share price almost cut in half this year. $JBLU https://t.co/WRqxquf56w
$JBLU (-7.9% pre) US seeks to block JetBlue, $SAVE Spirit Airlines merger at trial - Reuters https://t.co/Uxq8y3u1Nt
JetBlue missed earnings estimates and forecast a worse-than-expected loss this quarter as the carrier faces constraints on its operations https://t.co/bPyYk8CYYj
US seeks to block JetBlue, Spirit Airlines merger at trial https://t.co/xDYUC0UgyR https://t.co/TRIL5487NN
$JBLU | JetBlue Q3 Earnings: - Adj. EPS/Loss $0.39 (Est/Loss $0.25) - Operating Revenue $2.4B (Est. $2.381B) - Sees Q4 Adj. EPS/Loss $0.55-$0.35 (Est/Loss $0.15) - Sees Q4 Est. Fuel Price Per Gallon $3.05-$3.20 - Sees Q4 Revenue Down 6.5-10.5% YoY, Sees FY23 Revenue Up 3-5% YoY -… https://t.co/lHexTtPZ6P
The antitrust trial following the Justice Department’s lawsuit to block JetBlue’s proposed merger with Spirit Airlines is finally due to begin after a two-week delay. https://t.co/XATSDv4tOU