Spirit Airlines' future is facing uncertainty as JetBlue Airways has warned that the $3.8 billion merger deal between the two companies may be terminated. JetBlue has informed Spirit that certain conditions required for the merger may not be met by the deadline. This development comes after a federal judge blocked the planned merger, and as a result, Spirit's stock has plummeted, with shares slumping 17% immediately after JetBlue's disclosure. The termination date for the deal is set for January 28, 2024. Despite the setback, bankers working with Spirit Airlines believe the company can avoid bankruptcy for at least the next six months, even if the merger with JetBlue does not proceed. However, the odds of overcoming the challenges posed by Biden's antitrust officials are considered low by the company.
JetBlue raises doubts about Spirit takeover; airlines appear at odds over possible end to the deal https://t.co/nMIwSB2TwQ
Spirit Airlines $SAVE plunged in trading after JetBlue Airways $JBLU indicated in a company filing that it may be unable to meet certain conditions for the merger. The termination date arrives Jan 28th. #stocks #stockmarket https://t.co/GtcHvMwMfl
Spirit shares sink 17% after JetBlue casts doubt on closing $3.8B merger https://t.co/j355NxyVU2 https://t.co/lSK98hl0vZ
JetBlue Airways warned Friday that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend, sending Spirit shares tumbling. https://t.co/TJdlgPcQjJ
Shares of Spirit Airlines Inc. slumped 16% immediately after JetBlue disclosed its view of the potential merger. https://t.co/HOJypg8LKe
JetBlue casts doubt on Spirit deal completion https://t.co/LyTQSuFkTG https://t.co/6DD8YwZFoN
NEW: JetBlue warns it might scrap blocked Spirit Airlines merger deal https://t.co/xKi6uAB2yH
Spirit Airlines Stock Tumbles as JetBlue Warns It Could Walk Away From Merger https://t.co/Qp0i01ydt2
JetBlue warned that it could terminate its attempted takeover of Spirit Airlines next week after a federal judge’s ruling blocked their planned merger https://t.co/TJgA60X6ZI https://t.co/TJgA60X6ZI
$SAVE (-15.25%) Spirit Airlines is giving back all of its recent gains today after JetBlue says that it will “continue to evaluate its options” regarding the potential merger https://t.co/0fAXv6EHaF
⚠️ JETBLUE TELLS SPIRIT AIRLINES SOME MERGER CONDITIONS MAY NOT BE MET BEFORE DEADLINE (Reuters) JetBlue Airways disclosed on Friday it had informed buyout target Spirit Airlines that certain conditions that are required as part of the merger agreement may not be met before the… https://t.co/DaIX9Y9Xow
Spirit Plummets After Jetblue Warns Deal Is About To Become "Terminable" https://t.co/A6x0dqtu97
Spirit Airlines’ stock tumbles after JetBlue warning that merger deal may need to be terminated https://t.co/XS1nKE9n6A
$JBLU JetBlue warns ⚠️ Spirit $SAVE may be terminable after Jan 28th
*JetBlue Airways Informs Spirit Airlines Certain Conditions to Closing Merger May Not Be Satisfied Before Outside Dates,
JetBlue $JBLU informed Spirit $SAVE that certain conditions to closing as per July 28, 2022 #merger agreement dated may not be satisfied prior to the outside dates set & may be terminable on and after January 28, 2024.
JETBLUE WARNS SPIRIT DEAL MAY BE TERMINABLE ON OR AFTER JAN. 28 Goodbye SAVE
BREAKING: Bankers working with @SpiritAirlines say the company is likely to avoid bankruptcy for at least the next 6 months even as its merger w @JetBlue gets nixed with Biden's antitrust officials. They give company challenge low odds of succeeding and say bondholders will…
Spirit Airlines, $SAVE, is up 18% today after appealing the $JBLUE $SAVE merger block. David Portnoy, of Barstool Sports, is up +40% on his $SAVE position. https://t.co/KgzqSbr8Xd
JetBlue and Spirit to appeal court decision blocking merger https://t.co/3km9ByyPjz
JetBlue and Spirit airlines will appeal a federal judge’s decision to block their planned $3.8 billion merger, saying that it would hurt consumers. https://t.co/LiGOt6y1vB
Spirit Airlines shares extend rebound after it appeals ruling blocking JetBlue merger https://t.co/InjREC1U3I
$SAVE (+3.9% pre) Spirit Airlines rises premarket after group, $JBLU JetBlue appeal ruling blocking merger - SI https://t.co/OfJuyJoTHY