JetBlue and Spirit abandon their $3.8 billion merger

JetBlue and Spirit Airways are abandoning their $3.8 billion merger deal. Each airways agreed to terminate the deal, citing “authorized and regulatory approvals” which have been “unlikely to be accomplished” by the July 2024 deadline for the merger.

In a press launch on Spirit's web site, CEO Ted Christie expressed disappointment that the corporate couldn’t strike a deal, “which might have saved lots of of thousands and thousands for shoppers and created an actual problem to the foremost 'Large 4' US airways. ”

In the meantime, JetBlue CEO Joanna Geraghty stated in an announcement that the corporate is “pleased with the work we've executed with Spirit to problem the established order, however whereas boundaries to closing stay, we determined collectively that each Airways' pursuits are greatest served by shifting ahead independently.”