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☆ Ex-JetBlue CEO Robin Hayes to run Airbus North America
▼ + stars: | 2024-04-22 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Robin Hayes, chief executive officer of JetBlue Airways Corp., speaks during an Economic Club of New York event in New York, US, on Wednesday, March 29, 2023. Former JetBlue Airways CEO Robin Hayes will run Airbus' North America arm, replacing Jeffrey Knittel, the airplane maker said Monday. Hayes, a longtime airline executive who has also held senior leadership roles at British Airways, will start in June. He will be managing Airbus' business in the region, where it has expanded production of narrow-body jets in Mobile, Alabama. It has customers including Delta Air Lines , his former employer JetBlue and the carrier's acquisition target Spirit.

Persons: Robin Hayes, Jeffrey Knittel, Hayes Organizations: JetBlue Airways Corp, Economic, of New, Former JetBlue Airways, Airbus, JetBlue, Spirit Airlines, Justice Department, British Airways, Delta Air Lines Locations: of New York, New York, North America, Mobile , Alabama

☆ JetBlue resets with new CEO, industry veterans to run airline on time, and profitably
▼ + stars: | 2024-02-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +6 min

In this article JBLU Follow your favorite stocks CREATE FREE ACCOUNTA JetBlue Airways plane prepares to depart New York's LaGuardia Airport. Leslie Josephs | CNBCIn the 24 years since JetBlue Airways ' first flight, the New York-based airline has pushed the envelope for a carrier of its size. And, until a judge blocked the deal last month, it planned to buy budget airline Spirit Airlines for $3.8 billion. Last week, JetBlue said it has hired back the airline's former chief commercial officer, Marty St. George, 59, as president. A JetBlue Airways plane sits on the tarmac at the Fort Lauderdale-Hollywood International Airport on January 31, 2024 in Fort Lauderdale, Florida.

Persons: Leslie Josephs, it's, Joanna Geraghty, Robin Hayes, Carl Icahn, Geraghty, Chris Ratcliffe, we've, Marty St, George, Marty, Henry Harteveldt, George's, Warren Christie, JetBlue, We've, Brett Snyder, Snyder, Spirit, Joe Raedle Organizations: JetBlue Airways, New, LaGuardia, CNBC, JetBlue, Spirit Airlines, JetBlue Airways Corp, World Aviation, Bloomberg, Getty, Latam Airlines, United Airlines, US Airways, Atmosphere Research, Transport Workers Union Local, Street, NYSE, Department of Transportation, discounter Frontier Airlines, Fort, Hollywood International Airport Locations: New York, London, Paris, Amsterdam, Dublin, U.S, Delta, United, punctuality, Fort Lauderdale, Fort Lauderdale , Florida

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

NEW YORK (AP) — JetBlue Airways warned that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend after a federal judge blocked the deal, sending Spirit shares sharply lower Friday. “Spirit believes there is no basis for terminating the Merger Agreement," Spirit wrote. Both JetBlue and Spirit have struggled financially and have been slower than some other airlines to recover from the pandemic. Since the start of 2020, JetBlue has lost $2.1 billion, and Spirit has lost $1.7 billion. Spirit tried to merge with Frontier Airlines, another low-cost carrier, in early 2022, but JetBlue won a bidding war to push Frontier aside.

Persons: JetBlue's, “, Spirit Organizations: — JetBlue Airways, Spirit Airlines, JetBlue, Justice Department, Justice, Spirit Airlines Inc, JetBlue Airways Corp, Spirit, Airbus, Pratt & Whitney, Frontier Airlines Locations: Miramar , Florida, New York, U.S, Delta, United

The Biden administration’s fight against consolidation in the airline industry will be tested Tuesday with lawyers for JetBlue Airways and the Justice Department squaring off in court. The administration is suing to block JetBlue’s proposed $3.8 billion acquisition of Spirit Airlines. The Justice Department is fresh off victory in a previous lawsuit that killed a partnership between JetBlue and American Airlines. If it swallows Spirit, JetBlue will leapfrog Alaska Airlines but still control less than 10% of the U.S. air-travel market. The Justice Department argues, however, that Spirit is the disruptive force that needs to be protected.

Persons: Biden, Obama Organizations: JetBlue Airways, Department, Spirit Airlines, JetBlue, Justice Department, American Airlines, U.S, Alaska Airlines, New, Big, Spirit, The, US Airways, JetBlue Airways Corp Locations: Boston, U.S, United, Delta, New York, Miramar , Florida, New York City, Fort Lauderdale , Florida, Continental

☆ JetBlue agrees to sell Spirit assets in Boston, Newark to Allegiant
▼ + stars: | 2023-09-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo Acquire Licensing RightsSept 11 (Reuters) - JetBlue Airways Corp (JBLU.O) said Monday it had agreed to sell all of Spirit Airlines (SAVE.N) assets at Boston and Newark Liberty airports to Allegiant (ALGT.O), as it works to win approval for its tie-up with Spirit. JetBlue said it had agreed to transfer two gates in Boston, two gates in Newark, and 43 takeoff and landing authorizations in Newark to Allegiant. JetBlue said in July it would not challenge a U.S. judge's May order that it end an alliance with American Airlines. JetBlue argued terminating its alliance with American renders "entirely moot" the government's objections to its deal to buy Spirit.

Persons: Dado Ruvic, Robin Hayes, judge's, David Shepardson, Mehr Bedi, Anil D'Silva, Mark Potter Organizations: Airlines, jetBlue Airways, REUTERS, JetBlue Airways Corp, Spirit Airlines, Newark Liberty, Spirit, JetBlue, Hollywood International Airport, Broward County Aviation Department, The Justice Department, U.S, American Airlines, US Airways, Thomson Locations: Boston, Allegiant, Newark, Fort Lauderdale, Massachusetts, New, LaGuardia, Frontier, U.S, Washington, Bengaluru

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

The U.S. Justice Department and Federal Trade Commission (FTC) have mounted an unprecedented number of legal challenges to mergers since Biden came to office in 2021. The Justice Department lost a merger in the insurance industry but won an effort to stop a book publisher merger. Deal advisers said companies had already braced for a tough antitrust regime under Biden and some had been emboldened by the regulators' recent court losses. "The (regulators' guidelines) do provide more transparency but that transparency also reveals some concerns that they are quite hostile to consolidation. The new antitrust guidelines also reflect the White House's focus on labor issues.

Persons: Gonzalo Fuentes, Joe Biden's, Biden, Department's, Kenneth Schwartz, Flom, Fiona Schaeffer, Milbank, Elizabeth Warren, Warren, Diane Bartz, Richard Chang, Chizu Nomiyama, Daniel Wallis Organizations: Viva Technology, Porte de, REUTERS, U.S . Justice Department, Federal Trade Commission, Microsoft, Activision Blizzard Inc, FTC, Meta, Justice Department, JetBlue Airways, Spirit Airlines Inc, Amazon.com, Amazon, Flom LLP, Global, LSEG, Intelligence, Democrat, Congress, Thomson Locations: Porte, Paris, France, WASHINGTON, Skadden, Slate

☆ Stocks making the biggest moves midday: JetBlue, Affirm, Genius Sports, Sweetgreen and more
▼ + stars: | 2023-07-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

A JetBlue Airways Corp. plane departs at Reagan National Airport (DCA) in Arlington, Virginia, U.S., on Monday, April 6, 2020. Check out the companies making the biggest moves midday:JetBlue Airways — Shares of JetBlue Airways shed 7.18%. Sweetgreen — The salad chain jumped 15.49% following an upgrade to buy from neutral by Bank of America. Bank of America — The bank stock dropped 2.75%. Bank of America announced after the bell Wednesday it was increasing its quarterly dividend to 24 cents per share from 22 cents.

Persons: Piper Sandler, Sweetgreen, Dr Pepper —, Morgan Stanley, Genius, —, Samantha Subin, Alex Harring, Jesse Pound Organizations: JetBlue Airways Corp, Reagan National Airport, JetBlue Airways —, JetBlue Airways, American Airlines, JetBlue, Spirit Airlines, Bank of America, Ford, National Football League, Moderna, pharma, U.S Locations: Arlington , Virginia, U.S, China

☆ JetBlue decides not to appeal American Airlines alliance court ruling
▼ + stars: | 2023-07-05 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +1 min

CHICAGO, July 5 (Reuters) - JetBlue Airways Corp (JBLU.O) said on Wednesday it will not appeal a U.S. judge's decision in May requiring it to end an alliance with American Airlines Group (AAL.O). The New York-based carrier said it will start unwinding the alliance to focus on its merger with Spirit Airlines (SAVE.N). U.S. District Judge Leo Sorokin in Boston on May 19 ordered JetBlue and American to end their "Northeast Alliance," saying the partnership "substantially" diminished competition in the domestic market. It also was a big piece of American's strategy to compete in the New York market, where it was losing money. Since the partnership started, American has ceded domestic capacity out of New York to JetBlue.

Persons: Leo Sorokin, Sorokin's, Rajesh Kumar Singh, Will Dunham, Chris Reese Organizations: JetBlue Airways Corp, American Airlines Group, The, Spirit Airlines, U.S, District, JetBlue, U.S . Justice Department, Thomson Locations: U.S, The New York, Boston, New York, American

May 31 (Reuters) - American Airlines Group (AAL.O) will appeal a U.S. court decision requiring it to end an alliance with JetBlue Airways Corp (JBLU.O), American CEO Robert Isom said on Wednesday. "We've got a legal system that allows for appeal, and we're going to do that," Isom told the Bernstein Conference. American is the largest U.S. airline by fleet size and low-cost carrier JetBlue is the sixth largest. Even as the Texas-based carrier prepares to appeal the ruling, Isom said it will have to work with the Justice Department and JetBlue to figure out what it does in the interim. American, which reiterated its full-year profit forecast Wednesday, doesn't expect the court ruling to have a material impact on its earnings.

Persons: Robert Isom, Leo Sorokin, We've, Isom, Sorokin, Joe Biden's, doesn't, Rajesh Kumar Singh, David Shepardson, Diane Bartz, Deepa Babington, Lisa Shumaker Organizations: American Airlines Group, JetBlue Airways Corp, . U.S, District, Bernstein Conference, JetBlue, U.S . Justice Department, U.S, Justice Department, Thomson Locations: U.S, American, ., Boston, New York, Texas, Chicago, Washington

[1/2] An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. In his ruling, U.S. District Judge Leo Sorokin said the partnership "substantially diminishes competition in the domestic market for air travel." Garland said the Justice Department will continue to protect competition and enforce U.S. antitrust laws across industries, including the airline industry. The judge gave the airlines 30 days to end the alliance. TD Cowen analyst Helane Becker said she believes the American JetBlue ruling "has negative implications for the JetBlue/Spirit merger."

In his ruling, U.S. District Judge Leo Sorokin said the partnership "substantially diminishes competition in the domestic market for air travel." American is the largest U.S. airline by fleet size and low-cost carrier JetBlue is the sixth-largest. The Justice Department did not immediately respond to a request for comment. The judge gave the airlines 30 days to end the alliance. TD Cowen analyst Helane Becker said she believes the American JetBlue ruling "has negative implications for the JetBlue/Spirit merger."

WASHINGTON, May 19 (Reuters) - A U.S. judge ruled on Friday that American Airlines Group (AAL.O) must end its alliance with JetBlue Airways Corp (JBLU.O), agreeing with the U.S. Justice Department that it means higher prices for consumers. U.S. District Judge Leo Sorokin said the agreement "entangles JetBlue with American in a way that diminishes its status as an independent low-cost player in the market." The judge gave the airlines 30 days to end the alliance. The department sued in 2021 asking Sorokin to stop the "Northeast Alliance" partnership, announced in July 2020 and approved by the U.S. Transportation Department shortly before the end of the Trump administration. It took aim at American Airlines, saying the alliance would cost consumers hundreds of millions of dollars.

☆ US weighs suit against Korean Air’s planned acquisition of Asiana -Politico
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +3 min

May 18 (Reuters) - The U.S. Justice Department is considering suing to block Korean Air's (003490.KS) planned acquisition of Asiana Airlines (020560.KS), Politico reported on Thursday. In response to the report, Korean Air said the Justice Department had not made any official decision, adding the South Korean airline would continue its dialogue with the U.S. government until a final decision is made. "Korean Air has made, and continues to make, every effort to obtain all necessary approvals," the company said in a statement to Reuters. EU antitrust regulators said on Wednesday that Korean Air Lines' proposed acquisition of rival Asiana may restrict competition in passenger and cargo air transport services between Europe and South Korea. The merger between South Korea's no.1 and no.2 airlines would see Korean Air become the biggest shareholder in indebted Asiana.

☆ Factbox: Pilots, airlines seek to strike new contracts ahead of peak travel season
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +3 min

SOUTHWEST AIRLINES CO (LUV.N):The Southwest Airlines Pilots Association (SWAPA) in May said its members at the company approved a strike mandate. It added that 98% of its members participated in the vote and 99% voted in favor of authorizing a strike. UNITED AIRLINES HOLDINGS INC (UAL.O):Last year, ALPA said 94% of the nearly 10,000 United Airlines pilots voted to reject a contract offer. SPIRIT AIRLINES INC (SAVE.N):In January, ALPA said pilots at Spirit Airlines voted to ratify a new contract. More than 97% of the union members took part in the vote and 99% of them authorized union leaders to call a strike, if needed.

☆ More States Join Antitrust Lawsuit to Block JetBlue, Spirit Merger
▼ + stars: | 2023-03-31 | by ( Denny Jacob | ) www.wsj.com time to read: 1 min

Attorneys general from California, Maryland, New Jersey and North Carolina on Friday joined an antitrust lawsuit seeking to block JetBlue Airways Corp.’s takeover of Spirit Airlines Inc.“This merger could decrease competition in air travel, leading to fewer flight options and increased costs for travelers,” said North Carolina Attorney General Josh Stein . “A merger might benefit the airlines, but it could harm their customers.”

JetBlue will face "an uphill battle" as it fights the government," said Diana Moss, president of the American Antitrust Institute. "If I'm JetBlue, that's where I focus right now, developing that divestiture offer and lining up a buyer to 'litigate the fix,'" said Dryden. Whatever arguments JetBlue uses, a court fight could last six to eight months and cost tens of millions of dollars in attorney fees, legal experts said. Bill Baer, head of the Justice Department's antitrust division under former President Barack Obama, said the government's complaint "shows that there is meaningful competition between Spirit and JetBlue." "JetBlue brags about the 'JetBlue effect,' where they enter a market and fares tend to go down," he said.

U.S. District Judge William Young in Boston was randomly assigned the case despite the Justice Department's contention that the lawsuit should be heard by another judge who is overseeing a separate antitrust case involving JetBlue. The Justice Department on Tuesday argued that Sorokin should hear the Spirit case as well because both involved "an assessment of JetBlue's network plans, aircraft orders and configurations, and pricing strategy." Sorokin, an appointee of Democratic former President Barack Obama, on Wednesday in a brief order said the Spirit case was wrongly assigned to him because it was "incorrectly marked as related and thus not randomly assigned." The Justice Department and JetBlue declined to comment. In the case filed on Tuesday, the Justice Department said the merger of JetBlue and Spirit would "combine two especially close and fierce head-to-head competitors."

☆ Analysis: US lawsuit to block JetBlue-Spirit merger casts chill over future airline deals
▼ + stars: | 2023-03-07 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

CHICAGO, March 7 (Reuters) - A U.S. federal lawsuit to block JetBlue Airways Corp's (JBLU.O) purchase of Spirit Airlines (SAVE.N) has raised hurdles for future airline deals, making it harder for companies to pursue growth and manage costs. Mergers and acquisitions are a time-honored way for companies to both boost revenue and profit through cost cutting. But the DOJ lawsuit could send a chill through airline boardrooms, said Addison Schonland, partner at consulting firm AirInsight. American Airlines (AAL.O), United Airlines (UAL.O), Delta Air Lines (DAL.N) and Southwest Airlines (LUV.N) control 80% of the domestic market. The lawsuit against the JetBlue-Spirit deal was widely expected because of the Biden administration's crackdown on large deals between publicly listed companies, analysts said.

☆ Justice Department Sues to Block JetBlue-Spirit Merger
▼ + stars: | 2023-03-07 | by ( Dave Michaels | Andrew Tangel | ) www.wsj.com time to read: 1 min

The Justice Department filed a lawsuit seeking to block JetBlue Airways Corp. from merging with Spirit Airlines Inc., arguing the deal would stifle competition and lead to higher fares. The DOJ filed its lawsuit Tuesday in Massachusetts federal court. The states of New York and Massachusetts and the government of the District of Columbia are also plaintiffs on the civil case, which says the merger would eliminate Spirit as a low-cost competitor to the major carriers.

The complaint, which was filed in Boston federal court, said that JetBlue planned to remove 10% to 15% of seats from every Spirit plane. "Fewer seats means fewer passengers - and higher prices for those who can still afford to make their way onto the plane. Spirit shares were up about 1.8% on Tuesday after dipping the previous day on expectations of a lawsuit. JetBlue had previously said it expected the deal to close in early 2024, leaving time for litigation if necessary. JetBlue prevailed in a months-long bidding war for Spirit Airlines after the ultra-low-cost carrier accepted its offer in late July.

☆ U.S. to announce antitrust enforcement action on Tuesday
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, March 7 (Reuters) - The U.S. Department of Justice will announce an antitrust enforcement action later on Tuesday, the department said without giving any additional about the companies or industry involved. The announcement is scheduled for 11:30 a.m., the department said in an advisory. On Monday, JetBlue Airways Corp (JBLU.O) said it believes there is a "high likelihood" the department will file an antitrust lawsuit this week to block its $3.8 billion takeover of low-cost rival Spirit Airlines Inc (SAVE.N). Reporting by Susan Heavey and Diane BartzOur Standards: The Thomson Reuters Trust Principles.

☆ Justice Department Sues to Block JetBlue From Buying Spirit Airlines
▼ + stars: | 2023-03-07 | by ( Dave Michaels | Andrew Tangel | ) www.wsj.com time to read: 1 min

The Justice Department filed a lawsuit seeking to block JetBlue Airways Corp. from merging with Spirit Airlines Inc., arguing the deal would stifle competition and lead to higher fares for tens of millions of travelers. Justice Department officials said JetBlue’s proposed takeover would exacerbate concentration in the U.S. airline industry, eliminating the country’s largest ultra-low-cost competitor to major carriers and reducing available capacity.

☆ Factbox: JetBlue-Spirit deal flies into Biden administration's tough scrutiny
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: 1 min

March 7 (Reuters) - The $3.8 billion merger between JetBlue Airways Corp (JBLU.O) and Spirit Airlines Inc (SAVE.N) is in the crosshairs of the U.S. Justice Department, making it the latest major deal to attract tough regulatory scrutiny. Large deals, including Nvidia Corp's (NVDA.O) bid to buy UK-based chip firm Arm Ltd, have been abandoned following regulatory hurdles. Here is a list of some mergers that faced strong antitrust scrutiny under the Biden regime:DEALS UNDER SCRUTINYDEALS BLOCKED & ABANDONEDDEALS THAT WENT THROUGHReporting by Chavi Mehta in Bengaluru; Editing by Sriraj Kalluvila and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

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