The Biden administration sued to block JetBlue Airways' $3.8 billion purchase of Spirit Airlines, saying Tuesday that the deal would reduce competition and drive up air fares for consumers.
A JetBlue Airways Airbus A320 passes a Spirit Airlines Airbus A320 as it taxis on the runway on July 7, 2022, at the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Fla. The Biden administration wants to block JetBlue from buying Spirit, saying the deal would reduce competition and hurt travelers.JetBlue Airways' $3.
The Justice Department lawyers said Spirit's demise would eliminate about half of all ultra-low-cost seats in the market. The lawsuit is the latest by the Biden administration to seek to block mergers in industries including video gaming, publishing and sugar refining.and consumer advocates JetBlue held on to hope that the administration would come around to its argument that the combination with Spirit would be far smaller than other deals and would help consumers by putting pressure on the bigger airlines.
The Justice Department sued to block the last megadeal, American's merger with US Airways, then reached a settlement that required the carriers to give up some gates and takeoff and landing slots at several major airports. Before that, the government allowed Delta to buy Northwest, United to merge with Continental, and it later let Southwest buy AirTran.
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