About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

JetBlue Airways Corporation (JBLU) is scheduled to report fourth-quarter 2023 results on Jan 30, before market open.JBLU has a disappointing earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average miss being 1.41%.  Let’s take a look at the factors likely to have influenced JBLU’s performance in the quarter under review.We expect passenger revenues to fall 5.7% from fourth-quarter 2022 actuals. Total revenues are now sugge ...

Will Spirit Airlines Go Under? Boarding1Now / iStock Editorial via Getty Images Two things happened to Spirit Airlines (NYSE: SAVE) recently. Each pushed its stock in different directions. U.S. District Judge William Young blocked a merger with Jetblue (NASDAQ: JBLU), saying, “The elimination of Spirit would harm cost-conscious travelers who rely on Spirit’s low fares.” The stock plunged 64%. Almost immediately, Jetblue said it would appeal the decision. Spirit’s shares soared.Between these two decisions, ...

JetBlue Airways and Spirit Airlines said Friday they will appeal a federal judge’s ruling that blocked the air carriers’ planned tie-up because the proposed merger would violate US antitrust law.The appeal came after US District Judge William Young in Boston on Tuesday sided with the Department of Justice in holding that JetBlue’s planned $3.8 billion acquisition of ultra-low-cost carrier Spirit was anti-competitive and would harm consumers.The airlines filed a notice late on Friday that they will appeal h ...

JetBlue Airways Corp. and Spirit Airlines Inc. said late Friday that they have appealed a court ruling that earlier this week blocked their planned merger. JetBlue JBLU, -1.19% and Spirit SAVE, +17.19% announced the appeal in a terse press release that provided no more details, adding only that the process is “consistent with the requirements of the merger agreement.” Wall Street was split on whether the airlines would be legally obliged to appeal the Tuesday ruling, which sided with the Justice Departm ...

Spirit and JetBlue planes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Wednesday, Nov. 1, 2023.JetBlue Airways and Spirit Airlines on Friday appealed a federal judge's ruling issued earlier this week that blocks the two carriers' planned merger on antitrust grounds.JetBlue had planned to buy Spirit for $3.8 billion in a deal struck in the summer of 2022. A federal judge on Tuesday, however, barred that combination, saying it would eliminate the budget carrier ...

JetBlue Airways told staff this week that it will cut some routes and service as it struggles to return to profitability and grapples with the fallout of its blocked plan to buy Spirit Airlines.JetBlue said it will stop flying from New York's John F. Kennedy Airport to Portland, Oregon, and to San Jose, California, and from Westchester, New York, and Martha's Vineyard, according to an internal memo, which was reviewed by CNBC. The airline will also suspend service from New York to Ponce, Puerto Rico, and to ...

Alaska and Hawaiian Airlines planes takeoff at the same time from San Francisco International Airport (SFO) in San Francisco, California, United States on June 21, 2023.President Joe Biden's Justice Department has successfully had two airline link-ups halted in court in recent months. That doesn't necessarily spell doom for Alaska Air's plan to buy Hawaiian Airlines.U.S. District Court Judge William Young on Tuesday sided with the Justice Department and blocked JetBlue Airways' $3.8 billion attempted takeov ...

With more observers bracing for a future where JetBlue Airways Corp. and Spirit Airlines Inc. have to go it alone, Fitch analysts on Wednesday became the latest to cast doubt on Spirit’s prospects as a standalone airline, saying the ultra-low-cost carrier faced “serious headwinds” to improving its profits.The credit-rating firm made that assessment after a federal judge on Tuesday blocked JetBlue’s JBLU, -8.67% $3.8 billion bid for Spirit SAVE, -22.47%, arguing the proposed tie-up would stifle competition i ...

Spirit Airlines is on shaky footing after JetBlue Airways' proposed $3.8 billion takeover of the budget carrier was blocked by a federal judge this week.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.Spirit's shares fell 47% after the decision was issued Tuesday. They were down another 23% on Wednesday, notching a new record low of $5.74 a share.Spirit, whose last profi ...