JetBlue Spirit Merger Due to Be Heard This Summer | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-06.17.24

Airborne-NextGen-06.18.24

Airborne-Unlimited-06.12.24 Airborne-FltTraining-06.13.24

Airborne-Unlimited-06.21.24

Tue, Feb 06, 2024

JetBlue Spirit Merger Due to Be Heard This Summer

Appeal Winds Way Through Courts As Shareholder Sentiments Shellac Stocks

JetBlue has gotten a court date for its appeal for the desired merger with Spirit Airlines, but things won’t be moving as quickly as they desire - the 1st US Circuit Court of Appeals will take the case before June of this year.

The case is actually being taken care of somewhat expeditiously, as far as legal things tend to go. JetBlue had petitioned to have their appeal considered by July 24th, a deadline their merger agreement had set to close the deal had it all gone as planned. While it would be cutting it close, getting the appeal reviewed (and hopefully approved) would allow both companies to go forward as they wanted to without having to go back and gain the authorization of shareholders de novo.

The Department of Justice blocked the merger, believing it threatened the biodiversity of the air travel economy, ridding the market of two players in the ultra low cost carrier niche. The Department moved to block the appeal, too, arguing that June arguments would do just fine. They believe the July 24th closing date was made with an eye towards antitrust arguments to begin with. The airlines fired back at the idea, saying that the merger is dependent upon $3.5 billion in financing that would expire in July without an approved extension. 

Moving on with the case, JetBlue and Spirit will supply their appeal briefs on February 26, with a DoJ response set for april. Briefs should be complete by the end of may. The 1st circuit seemed terse about getting things done for good once court begins, saying that the argument would be contemplated in June with extensions “strongly disfavored”.

FMI: www.justice.gov

Advertisement

More News

Aero-TV: SUN 'n FUN Medical - Ready to Treat More Than Sunburns

The Medical Team of SNF Is Prepared For Just About Anything After a little medical incident of the Aero-News team, ANN Editor-in-Chief Jim Campbell stopped by the medical facility >[...]

ANN's Daily Aero-Linx (06.21.24)

Aero Linx: The Air Charter Safety Alliance The group, called the Air Charter Safety Alliance, will raise awareness of illegal charter flights among potential customers, charter bro>[...]

Aero-News: Quote of the Day (06.21.24)

“We’re getting set to host the biggest FlightSimExpo ever. See you for another unforgettable weekend of product launches, hands-on exhibits, educational seminars, re-co>[...]

ANN's Daily Aero-Term (06.21.24): Dead Reckoning

Dead Reckoning Dead reckoning, as applied to flying, is the navigation of an airplane solely by means of computations based on airspeed, course, heading, wind direction, and speed,>[...]

NTSB Prelim: Frost Dean C Rans S-12XL Airaile

(Witnessses) Reported That The Airplane Was Flying Close To The North Side Of The Peak And Subsequently Impacted The Ground About 81 Ft Below The Peak On June 8, 2024, about 0721 m>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC