JetBlue(JBLU)

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Judge Blocks JetBlue's $3.8 Billion Acquisition of Spirit
WSJ· 2024-01-16 19:01
JetBlue is the country’s sixth-largest carrier, and Spirit ranks seventh. Photo: Wilfredo Lee/Associated PressA federal judge on Tuesday blocked JetBlue Airways from acquiring Spirit Airlines , agreeing with the Justice Department that the $3.8 billion deal would eliminate a competitor important to price-conscious travelers. The Justice Department said JetBlue’s purchase of Spirit would remove an ultra-low-cost carrier that benefits travelers and puts pressure on other airlines to keep down fares. Removing ...
Spirit Airlines Stock Plummets Over 50% After JetBlue Deal Blocked
Forbes· 2024-01-16 18:37
ToplineSpirit Airlines’ stock plunged as much as 60% on Tuesday following news that a federal judge blocked its $3.8 billion acquisition at the hands of JetBlue Airways, scoring a win for the Justice Department, which sued JetBlue last year to stop the acquisition on antitrust grounds.The merger was first announced in July 2022. (Photo by Smith Collection/Gado/Getty Images)Gado via Getty ImagesKey FactsU.S. District Judge William G. Young said the proposed acquisition of Spirit would have eliminated the air ...
JetBlue's Merger With Spirit Blocked. It Would Harm Price-Sensitive Consumers, Judge Says.
Barrons· 2024-01-16 18:28
JetBlue Airways stock was rising and Spirit Airlines tumbled after a federal judge Tuesday blocked the proposed merger of the two airlines. ...
Judge blocks JetBlue-Spirit merger in a major win for Biden's Justice Department
CNBC· 2024-01-16 18:04
LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York.A federal judge blocked JetBlue Airways' purchase of budget rival Spirit Airlines, a major win for Biden's Justice Department, which sued to stop the merger, alleging it would drive up fares for some of the most price-sensitive consumers.JetBlue's proposed $3.8 billion purchase of discounter Spirit would have produced the country's fifth-largest airline, a deal the carriers said would help them better grow and compete aga ...
JetBlue Announces Record and Payment Dates for January 2024 Additional Prepayment to Spirit Stockholders
Businesswire· 2024-01-12 14:00
NEW YORK--(BUSINESS WIRE)--As previously announced, in connection with the Agreement and Plan of Merger, dated as of July 28, 2022 (the “Merger Agreement”), by and among JetBlue Airways Corporation (“JetBlue”) (NASDAQ: JBLU), Sundown Acquisition Corp., and Spirit Airlines, Inc. (“Spirit”) (NYSE: SAVE), JetBlue has set January 25, 2024, as the record date for the January 2024 prepayment to Spirit stockholders of $0.10 per Spirit share (the “January 2024 Additional Prepayment”), with payment of the January 20 ...
JetBlue CEO to resign in February; shares tumble
Proactive Investors· 2024-01-09 21:39
About this content About Andrew Kessel Andrew is a financial journalist with experience covering public companies in a wide breadth of industries, including tech, medicine, cryptocurrency, mining and retail. In addition to Proactive, he has been published in a Financial Times-owned newsletter covering broker-dealer firms and in the Columbia Misourian newspaper as the lead reporter focused on higher education. He got his start with an internship at Rolling Stone magazine. Read more About the publisher Pr ...
JetBlue (JBLU) Board Appoints Joanna Geraghty as New CEO
Zacks Investment Research· 2024-01-09 19:17
JetBlue Airways (JBLU) board of directors has chosen Joanna Geraghty as the new chief executive officer (CEO) of the company, effective Feb 12, 2024. Joanna Geraghty, currently serving as JBLU’s president and chief operating officer, is succeeding Robin Hayes, who has been leading the company for almost nine years.Hayes will serve as a strategic advisor to the company over the coming months.Peter Boneparth, chair of JetBlue’s board, stated, "On behalf of the entire Board, I want to congratulate Joanna and t ...
Why JetBlue Stock Is in a Tailspin Today
The Motley Fool· 2024-01-09 17:40
On Tuesday morning, JetBlue Airways (JBLU -10.76%) announced that its CEO is stepping down at a critical moment in the airline's history. The market hates surprises, and shares of JetBlue were trading down by more than 10% as of 12:25 p.m. ET following the announcement.A new leader at a challenging timeJetBlue has a lot going on right now. It's currently in court fighting an attempt by antitrust regulators to block its proposed acquisition of Spirit Airlines (SAVE -4.99%). It has also had to deal with opera ...
JetBlue's stock tumbles after analyst sees 40% downside
Market Watch· 2024-01-09 17:25
Shares of JetBlue Airways Corp. took a hard hit Tuesday, following an analyst’s call to sell the stock, and after the air carrier announced that its long-time chief executive was retiring for health reasons.A look at the stock’s JBLU, -10.65% chart suggests, however, that the downgrade may have had more to do with the selloff, as shares initially gained on the CEO news. JetBlue’s stock ticked up after CEO-succession announcement, then dived in the wake of BofA Securities’ call to sell. FactSet, MarketWatc ...
JetBlue Stock Is Falling. The Sudden CEO Change Isn't the Only Reason.
Barrons· 2024-01-09 15:43
JetBlue Airways’ incoming CEO Joanna Geraghty is set to take the helm at a turbulent time for the low-cost airline as it awaits a court ruling on its merger with Spirit Airlines. ...