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WASHINGTON, March 6 (Reuters) - JetBlue Airways Corp (JBLU.O) said on Monday it believes there is a "high likelihood" the U.S. Justice Department will file an antitrust lawsuit this week to block its $3.8 billion takeover of low-cost rival Spirit Airlines Inc (SAVE.N). JetBlue said in a statement that it accounted for the possibility of a lawsuit when it provided a timeline to close the deal in the first half of 2024. JetBlue prevailed in a months-long bidding war for Spirit Airlines after the ultra-low-cost carrier accepted its offer in late July. JetBlue Chief Executive Robin Hayes said on Monday he expected a government lawsuit to stop the deal and that the company would fight it, the Wall Street Journal reported. JetBlue is also awaiting the outcome of a lawsuit filed by the U.S. Justice Department which asks the court to force JetBlue and American to scrap its Northeast Alliance.

WASHINGTON, March 6 (Reuters) - JetBlue Airways (JBLU.O) said Monday it believes the U.S. Justice Department has a "high likelihood" of filing an antitrust lawsuit this week to block its $3.8 billion takeover of low-cost rival Spirit Airlines Inc (SAVE.N). "We have always accounted for that in our timeline to close the transaction in the first half of 2024," JetBlue said in a statement to Reuters. The Transportation Department, which is also reviewing the deal, is expected to take parallel action to stop the planned transaction, Bloomberg News reported said. JetBlue prevailed in a months-long bidding war for Spirit Airlines after the ultra-low-cost carrier accepted its offer in late July. JetBlue Chief Executive Robin Hayes said on Monday he expected a government lawsuit to stop the deal and that the company would fight it, the Wall Street Journal reported.

☆ Spirit Airlines says expects DOJ decision on JetBlue merger in around 30 days
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Feb 7 (Reuters) - Spirit Airlines Inc (SAVE.N) said on Tuesday it expects U.S. antitrust regulators to decide whether to allow the low-cost carrier to proceed with its $3.8 billion merger with JetBlue Airways Corp (JBLU.O) in the "next 30 days or so." "We are now waiting to see whether the Department of Justice (DOJ) filed suit to block the deal or allows us to proceed," Spirit CEO Edward Christie said during an investor call. JetBlue prevailed in a months-long bidding war for Spirit Airlines after the ultra-low-cost carrier accepted its deal. Spirit had cited the Justice Department lawsuit as a reason to fear regulators blocking its sale to JetBlue when it was trying to persuade Spirit shareholders to back the deal with Frontier Airlines Holding Inc instead. JetBlue had acknowledged that the regulatory process could be drawn out and it did not expect the deal to be completed before December 2023.

☆ Spirit Airlines beats estimates on strong travel demand
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - Ultra low-cost carrier Spirit Airlines Inc (SAVE.N) posted better-than-expected quarterly results on Monday, fueled by strong demand for air travel despite ongoing economic concerns. Shares of Spirit rose over 7% to $21 in aftermarket trade. U.S. airlines have been trying to cash in on strong demand for air travel, undeterred by rising interest rates and a looming recession, as pandemic restrictions ease. Spirit earned $0.12 per share on an adjusted basis, above analyst estimates of $0.04 per share, according to Refinitiv data. The Miramar, Florida-based airline's total operating revenue in the quarter rose nearly 41% to $1.39 billion, compared with analysts' estimates of $1.38 billion.

☆ Pipemaker Geberit's sales fall, says home improvement boom over
▼ + stars: | 2023-01-19 | by ( John Revill | ) www.reuters.com time to read: +2 min

Sales decreased to 3.39 billion Swiss francs ($3.70 billion) from 3.46 billion francs in 2021, which was a record year for a company whose pipes and ceramics are used in renovation and new-build projects. But converting those revenues into Swiss francs had a negative impact of 234 million francs. Sales volumes hit a record level in the first half due to the build-up of inventories at wholesalers. Both those trends were particularly marked during the fourth quarter, when sales fell nearly 14% to 667 million francs. The Swiss company is due to report full-year earnings on March 8.

What are credit card and bank rewards points worth? One great feature of the program is that all points are equal, so any account that earns Membership Rewards points has access to transfer partners. If you're a Bank of America Preferred Rewards customer, you'll earn 25% to 75% more points, depending on how much you have on deposit, but your rewards points are still worth 1 cent apiece. You can transfer points from Chase Ultimate Rewards, Amex Membership Rewards, and Citi ThankYou to JetBlue, but the ratio varies depending on the rewards program. However, those miles expire after 36 months regardless of your account activity, so only transfer miles when you have immediate plans to redeem them.

☆ What's the deal with the new B-21 bomber's weird windshield?
▼ + stars: | 2022-12-15 | by ( Alex Hollings | Sandboxx News | ) www.businessinsider.com time to read: +4 min

Few of the new B-21 bomber's features have gotten as much attention as its unusual windshield. What's the deal with the B-21 Raider's windscreens? US Air ForceThe B-21 Raider's unusual windscreen layout has been the subject of lots of discussions, but there has been very little in the way of formal statements regarding it. The unusual shape of the B-21 Raider's front two windscreens seems to prioritize visibility directly ahead and above the aircraft most of all. Glass windscreens and cockpits can have a pronounced effect on an aircraft's radar return.

☆ Surprise inflation report may signal smaller Fed rate hikes in future — if trend continues
▼ + stars: | 2022-12-13 | by ( Patti Domm | In | ) www.cnbc.com time to read: +3 min

The Federal Reserve may be more comfortable with a series of small rate hikes next year if inflation continues to cool, economists say. Stocks surged and bond yields fell sharply early Tuesday as investors bet November's better-than-expected consumer inflation report could mean fewer Federal Reserve rate hikes. A basis point equals 0.01 of a percentage point. As bond yields fell, the futures market reflected lower expectations for Fed rate hikes Tuesday morning. She expects the central bank to raise rates by a half percentage point Wednesday and to end rate hikes at a terminal rate of 5.1% next spring.

☆ A flight attendant who says she was fired by Spirit for being overweight is suing the airline
▼ + stars: | 2022-12-11 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

A flight attendant filed a lawsuit against Spirit Airlines claiming she was wrongfully terminated. Chelsia Blackmon claimed the airline fired her for being overweight, court documents showed. On October 8, the flight attendant was asked to buckle into a jump seat that was too small for her, according to the complaint. The flight attendant also said that the airline's actions "were in willful and malicious and in reckless disregard of her civil rights." Spirit Airlines and Blackmon's attorney didn't immediately respond to requests for comment from Insider.

☆ Spirit Airlines offers big raises to pilots in new contract - union memo
▼ + stars: | 2022-12-10 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

CHICAGO, Dec 9 (Reuters) - Spirit Airlines (SAVE.N) has offered as much as a 43% cumulative weighted average pay raise to its pilots over two years, according to a union memo seen by Reuters. It comes a week after Delta Air Lines (DAL.N) offered a 34% cumulative pay increase to its pilots over three years in a new contract. Overall, it would lead to a 34% cumulative weighted average increase in pay rates for Spirit pilots, the memo said. ALPA said the deal involves "zero concessions" on the part of Spirit pilots. ALPA said the proposed contract will cover 3100 Spirit pilots.

☆ Spirit Airlines reaches deal with pilots on new contract, union says
▼ + stars: | 2022-12-09 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +1 min

CHICAGO, Dec 9 (Reuters) - Spirit Airlines (SAVE.N) pilots have reached a tentative agreement with the company over a new contract, their union said in a statement on Friday. The agreement represents an economic gain of $463 million or 27% over the next two years for the pilots, the union said. The Air Line Pilots Association (ALPA), which represents pilots at the ultra-low-cost carrier, said the deal involves "zero concessions" on the part of Spirit pilots. "This agreement...stands in stark contrast to previous bargaining cycles at Spirit and other large jet carriers, where pilots have endured years of stagnating compensation while negotiating comprehensive pilot contracts," said Spirit's pilot union head Ryan Muller. The pilot union, however, declined to share more details of the deal.

☆ Pentagon debuts its new stealth bomber, the B-21 Raider
▼ + stars: | 2022-12-03 | by ( ) www.cnbc.com time to read: +7 min

The B-21 Raider is the first new American bomber aircraft in more than 30 years. Both the Air Force and Northrop also point to the Raider's relatively quick development: The bomber went from contract award to debut in seven years. And we will build the bomber force in numbers suited to the strategic environment ahead," Austin said. The B-21 Raider, which takes its name from the 1942 Doolittle Raid over Tokyo, will be slightly smaller than the B-2 to increase its range, Warden said. Northrop Grumman has also incorporated maintenance lessons learned from the B-2, Warden said.

☆ Aerospace suppliers flag cash flow warning as jet production hits turbulence
▼ + stars: | 2022-11-18 | by ( Abhijith Ganapavaram | ) www.reuters.com time to read: +2 min

Nov 18 (Reuters) - Aerospace suppliers are staring at the prospect of dwindling cash flow as they struggle with excess inventory due to production challenges at top planemakers Boeing Co (BA.N) and Airbus SE (AIR.PA). Boeing-supplier Spirit AeroSystems Holdings Inc (SPR.N) said earlier this month a "challenging environment" is "putting a lot of pressure on our ability to generate cash". "We've got to carry extra inventory buffers because of supply chain," Spirit's finance chief, Mark Suchinski, had said. An inventory build opens up the possibility that companies may struggle in the event of a downturn but aerospace executives maintain demand is strong. "Our analysis indicates healthy growth in aircraft deliveries even through a severe recession," CFRA Research senior equity analyst Colin Scarola said.

☆ JetBlue is launching service to Paris from JFK and Boston
▼ + stars: | 2022-11-16 | by ( Brady Macdonald | ) www.businessinsider.com time to read: +2 min

JetBlue looks to disrupt United, Delta, and American with the expanded European service. New European routes from JetBlue, United, and Delta tap into pent-up demand for overseas travel. Non-stop service between Boston Logan International Airport and CDG will be added at a later date. The move effectively doubles JetBlue's transatlantic presence following the 2021 launch of service to London from New York and Boston. In pre-pandemic 2019, the lucrative transatlantic travel market accounted for 11% to 17% of passenger revenues at United, Delta, and American airlines, according to Reuters.

☆ Spirit is dropping 37 routes from its network in a significant adjustment that targets Florida — see the full list
▼ + stars: | 2022-11-14 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

Spirit Airlines has temporarily cut 37 routes from its network starting in January. The airline is calling the cuts temporary, with plans to restore many of them in 2023. Starting in January, the low-cost carrier will nix 37 routes from its map, including destinations in the US and abroad, according to Cirium data. Although Spirit is pulling some routes from Florida, Spirit EVP and CCO Matthew Klein said in the earnings call that "while we are seeing the constraints on our Florida network, we are able to reallocate that to other parts of the country." Here is the full list of Spirit's 37 temporarily dropped routes:

☆ How airlines plan to create a new generation of pilots amid fears of decade-long cockpit crisis
▼ + stars: | 2022-11-11 | by ( Bob Woods | ) www.cnbc.com time to read: +12 min

Focusing more long-term, though, airlines are boosting training programs to unprecedented levels and trying to attract a younger and more diverse next generation of aviators. That formula has been adopted by regional airlines, too, such as Mesa Air Group , Republic, Envoy, Cape Air and SkyWest . The regionals have always been an entry point for the mainline airlines' pilots, providing them the requisite number of hours of flight time needed before advancing. "The pilot shortage has abated to some extent," Murray said, "but at the expense of lower frequencies and fewer connection opportunities for travelers." Regional airline Republic has its own flight school, the Leadership in Flight Training Academy, in Indianapolis.

☆ JetBlue posts quarterly profit as travel demand helps cover jump in costs
▼ + stars: | 2022-10-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

A JetBlue Airways Corp. plane prepares for landing at LaGuardia Airport in New York, U.S., on Tuesday, April 18, 2017. JetBlue Airways eked out a $57 million profit for the third quarter as strong travel demand and higher fares helped the carrier cover more expensive fuel and other costs. The New York-based airline's revenue rose 30% during the quarter from the same period last year to $2.56 billion, in line with analysts' estimates. Larger U.S. carriers have been upbeat about travel demand and largely outperformed analysts' expectations on resilient travel demand, particularly on the return of international trips. The airline forecast fourth-quarter unit costs, excluding fuel, to be up as much as 10.5% from three years ago.

☆ Spirit Airlines shareholders vote in favor of $3.8 bln JetBlue merger
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/IllustrationsOct 19 (Reuters) - Shareholders of U.S. carrier Spirit Airlines Inc (SAVE.N) on Wednesday voted in favor of JetBlue Airways Corp's (JBLU.O) $3.8 billion takeover offer, moving the companies closer to creating the nation's fifth-largest carrier. Spirit and JetBlue expect to conclude the regulatory process and close the deal no later than the first half of 2024. However, New York-based Spirit in July sided with JetBlue's revised offer, a day after terminating its $2.7 billion merger deal with Frontier. read more read moreSpirit's shares were up 0.7% in morning trade on Wednesday.

☆ Spirit shareholders approve takeover by JetBlue after long battle for discount airline
▼ + stars: | 2022-10-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images)Spirit Airlines shareholders have approved a takeover by JetBlue Airways after a six-month battle to create the country's fifth-largest carrier, a deal that now faces a high hurdle with federal regulators. In April, JetBlue made a $3.8 billion all-cash offer for Spirit, derailing Spirit's plan for a cash-and-stock deal to merge with Frontier Airlines . If the takeover is approved, JetBlue plans to do away with the Spirit brand, known for its ultra-low airfares and bare-bones service with fees for add-ons like carry-on bags. "This is an important step forward on our path to closing a combination that will create the most compelling national low-fare challenger to the dominant U.S. carriers," Spirit Airlines CEO Ted Christie said in a release.

What are credit card and bank rewards points worth? One great feature of the program is that all points are equal, so any account that earns Membership Rewards points has access to transfer partners. If you're a Bank of America Preferred Rewards customer, you'll earn 25% to 75% more points, depending on how much you have on deposit, but your rewards points are still worth 1 cent apiece. However, those miles expire after 36 months regardless of your account activity, so only transfer miles when you have immediate plans to redeem them. Non-elite members may transfer points to other members with the same address, provided both parties have been members for at least one year.

☆ Earnings playbook: How to play the second half of the season with Starbucks and Caterpillar on deck
▼ + stars: | 2022-07-31 | by ( Fred Imbert | ) www.cnbc.com time to read: +14 min

Tuesday Caterpillar is set to report earnings before the bell, followed by a conference all with management at 8:30 a.m. What history shows: Caterpillar has reported a better-than-expected profit in each of the last eight earnings days, FactSet data shows. What history shows : FactSet data shows Airbnb has beaten analyst expectations in the last four quarters. What history shows: FactSet data shows Paramount has missed earnings expectations in two of the past four quarters. Block is set to report earnings after the close, with management set to hold a call at 5 p.m.

☆ From legroom to airfare: How JetBlue's takeover of Spirit could change air travel
▼ + stars: | 2022-07-30 | by ( Leslie Josephs | ) www.cnbc.com time to read: +5 min

In this article JBLUSAVEPassengers wait in line at the Spirit Airlines check-in counter at Orlando International Airport. This is the first time anyone wanted Spirit Airlines," quipped "The Late Show" host Stephen Colbert about the deal on Thursday. As the two distinct airlines push ahead with their plans to combine, here's what passengers can expect:What are JetBlue's plans for Spirit? Afterward, passengers might be confused if they're flying in Spirit planes that haven't been retrofitted yet. Frontier Airlines, meanwhile, is already saying it's happy to take on a bigger share of the ultra-low-cost market after its Spirit deal fell apart.

☆ JetBlue to buy Spirit for $3.8 billion in push to become the fifth-largest US carrier
▼ + stars: | 2022-07-28 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

In this article ULCCJBLUSAVEwatch nowJetBlue Airways has reached a $3.8 billion deal to buy Spirit Airlines in a takeover that would create the country's fifth-largest airline and remove a fast-growing budget carrier from the market. Spirit lacked the shareholder support to win approval of the Frontier merger, which was first unveiled in February. If approved by regulators, JetBlue's takeover of Spirit would leave Frontier as the largest discount carrier in the U.S. It would also be the first major U.S. airline deal since 2016, when Alaska Airlines beat out JetBlue for Virgin America. A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022.

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