New York CNN —Spirit Airlines shares tanked 52% on Tuesday after a federal judge in Boston ruled against JetBlue’s proposed $3.8 billion acquisition of the discount airline. The Biden administration has argued since taking office there needs to be greater competition between businesses, especially in the airline industry, to lower costs for consumers. “If not blocked, the merger of JetBlue and Spirit would result in higher fares and fewer choices for tens of millions of travelers across the country. The Biden administration has taken a much more aggressive approach in fighting mergers and combinations, including in the airline industry. There is one other merger now being sought in the US airline industry, a proposed $1.9 billion deal to combine Alaska Airlines and Hawaiian Airlines.

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Persons: JetBlue’s, ”, William Young, Biden, General Merrick Garland Organizations: New, New York CNN — Spirit Airlines, Defendant Airlines, JetBlue, CNN, US Justice Department, Spirit, The Justice, “ Companies, — American Airlines, United, Delta Air Lines, Southwest Airlines, Northeast, Alaska Airlines, Hawaiian Airlines, Hawaiian Holdings Locations: New York, Boston, American, Northeast United States