Spirit Airlines pushing JetBlue to appeal merger rejection decision
Spirit Airlines has reportedly urged JetBlue Airways to file an appeal against the decision to block their merger.
A Federal Judge this week blocked JetBlue’s $3.8 billion takeover of Sprit.
At one point Spirit Airlines saw more than half its value wiped out in volatile trading after the ruling by U.S. District Judge William Young.
The judge agreed with the Justice Department that the merger would be bad news for consumer choice and low fares.
JetBlue hasn’t yet decided if it will appeal, according to unnamed sources.
Following the court ruling, the companies issued a joint statement saying they were ‘evaluating next steps as part of the legal process.,’
They have 30 days to file an appeal.
A source told Reuters that Spirit is exploring ways to refinance its debt if JetBlue doesn’t appeal.
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