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-05.20.24

Airborne-NextGen-05.21.24

Airborne-Unlimited-05.22.24 Airborne-FlightTraining-05.23.24

Airborne-Unlimited-05.24.24

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

ANN FAQ: Turn On Post Notifications

Make Sure You NEVER Miss A New Story From Aero-News Network Do you ever feel like you never see posts from a certain person or page on Facebook or Instagram? Here’s how you c>[...]

Airborne 05.22.24: NS-25 Chute Failure, #HonorTheWASP, SkyCourier 'Combi'

Also: VAI v Anti-Heli Actions, Electric Aircraft Symposium, 2024 FAA Drone/AAM Symposium, Gravitymaster Blue Origin's seventh passenger flight ended with a smidgeon of drama when o>[...]

Airborne-NextGen 05.21.24: ‘Liberty Lifter’, Cavorite Flies!, Eurodrone

Also: AMA National Fun Fly, Skyfire SF2, Echodyne Gets BVLOS, Av Meteorology Reference General Atomics' run at developing the Liberty Lifter ground effect aircraft has been put to >[...]

Airborne Affordable Flyers 05.16.24: PRA Runway, Wag-Aero Sold, Young Eagles

Also: Paramotor Champ's, Electric Ultralight, ICON BK Update, Burt Rutan at Oshkosh! The Popular Rotorcraft Association is reaching out for help in rebuilding their private runway >[...]

Airborne 05.20.24: Van's BK Exit, Bud Anderson, Air Race Classic

Also: ALPA Warns, Aviation Meteorology Reference, Jennifer Homendy Re-Ups, CAF Tampa Bay The court has approved Van's Aircraft's bankruptcy reorganization plans, settling a stressf>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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