The proposed merger between Spirit Airlines and JetBlue has been blocked by the court, with several politicians and industry experts expressing concerns about the potential impact on competition and consumer choice. President Biden hailed the ruling as a victory for consumers, emphasizing the importance of competition in capitalism. Analysts predict that Spirit Airlines may face financial challenges, potentially leading to bankruptcy or restructuring. The decision has sparked discussions about the future of the airline industry and the implications for travelers.
Spirit Airlines, weighed down by debt, is unlikely to find new suitors https://t.co/sJJQFtcIaC
Unless I’m missing something, the decision to reject the Jetblue and Spirit merger is quite literally the definition of anticompetitive, because one of these companies is about to die, thus reducing the number of competitors in the market and eliminating thousands of jobs.
Spirit Airlines looking like a Chamath SPAC https://t.co/X6Z444hH7x
Looking forward to FinX merger arb experts expanding their repertoire to event-driven investing across the cap structure. *SPIRIT AIRLINES EXPLORES RESTRUCTURING OPTIONS: WSJ *SPIRIT AIR SHARES DROP TO SESSION LOW, DOWN 23%
I Just Bought A Ton of Spirit Airlines Stock (I Am Not A Financial Advisor) https://t.co/Fob61xj8kw
CITI: ".. it is unclear why $JBLU wouldn’t cut its losses here and recognize that it avoided a risky bid on a highly levered carrier with steep losses. Citi assumes that each carrier goes their separate way – and although it would be hard to rule out entirely the appearance of…
More analysts talking about how bad of shape Spirit is now in: “Although they can still appeal…it is unclear why JetBlue wouldn’t cut its losses here and recognize that it avoided a risky bid on a highly levered carrier with steep losses.” -Citi https://t.co/U0ZHk4pQTp
$SAVE Industry-watchers say the carrier could be forced to cut its already low fares even more. Some Wall Street analysts argue the discount carrier could have to restructure, if not liquidate. The carrier could look for another buyer, “but a more likely scenario is a Chapter 11…
Dying Spirit? Budget airline notorious for brawls is at risk of BANKRUPTCY as shares plummet 17% after court threw out $3.8 billion merger with rival JetBlue https://t.co/bdzoaftvad https://t.co/MkTUCv69Il
This merger would have eliminated one of the few low cost options consumers have left. We already know the major airlines have raked in record profits while leaving consumers with high fares and declining service. This decision is a win for travelers. https://t.co/18YekXAwnl
"End Of This Merger": Analyst Warns Of Potential Spirit Airlines Bankruptcy https://t.co/9PYzBoYV3B
Keeping Spirit Airlines Cheap for Flyers Threatens to Kill It Altogether—the lunacy of lawyers https://t.co/epMLitqdXv
$SAVE (-19.6% pre) Spirit Airlines may look for another buyer, more likely to file for Chapter 11 - analyst - SA https://t.co/rZ2IGOYMjE
Capitalism without competition isn’t capitalism – it’s exploitation. Today’s ruling is a victory for consumers everywhere who want lower prices and more choices. My Administration will continue to fight to protect consumers and enforce our antitrust laws. https://t.co/NMj6tJhwMd
Consolidating airlines eliminates low-cost flights and reduces competition. That’s why I wrote a letter urging @TheJusticeDept to prevent future mergers among US airlines. I’m pleased Spirit remains an affordable rival to other airlines. https://t.co/tA8XelzeoD
Glad to see the court grounding this deal. The proposed anticompetitive merger would have resulted in consumers having less choices & higher prices. https://t.co/TY9ibfpqTb