Spirit Airlines expects to hear from DOJ on JetBlue deal in next 30 days
Feb. 07, 2023 9:36 PM ETSpirit Airlines, Inc. (SAVE), JBLUULCCBy: Joshua Fineman, SA News Editor7 Comments
- Spirit Airlines (NYSE:SAVE) CEO Ted Christie said he expects to hear from the Dept. of Justice concerning JetBlue (NASDAQ:JBLU)'s planned acquisition of low-cost carrier in the next 30 days.
- Christie said Spirit (SAVE) is waiting to see if the DOJ files a lawsuit to block the deal or allows it to proceed, he commented during the airliner's Q4 earnings conference call. Spirit said in December that the airline and JetBlue (JBLU) had certified substantial compliance with the DOJ's second request.
- Dealreporter last Monday said that the DOJ has been sending out depositions as it prepares for a possible lawsuit to block JetBlue's (JBLU) planned purchase of Spirit (SAVE).
- JetBlue (JBLU) agreed to a $3.8 billion acquisition of Spirit (SAVE) in late July after a long battle for the low-cost airline from rival Frontier (ULCC).
- Spirit Airlines (SAVE) shares gained 1.5% in regular trading after posting stronger than expected profits for the fourth quarter.