BREAKING: Justice Department files lawsuit to stop the proposed merger between JetBlue and Spirit Airlines.
March 7, 2023, 11:10 AMJetBlue and Spirit airplanes at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Fla., May 21, 2022.The Justice Department on Tuesday filed a lawsuit to stop the proposed merger between JetBlue and Spirit Airlines.
"The Big Four airlines have a lock on about 80% of the market," the company said in a statement. "JetBlue's combination with Spirit allows it to create a compelling national challenger to these dominant airlines, while also ensuring [ultra low cost carrier] options remain available in overlap markets.
Spirit, the Justice Department said, is allowing cost-conscious Americans the option to travel, and by eliminating this business model, it hurts competition for consumers. "The rest of the industry -- including JetBlue --has been forced to respond to Spirit's innovations and low prices. Spirit estimates that when it starts flying a route, average fares fall by 17%; JetBlue estimates that when Spirit stops flying a route, average fares go up by 30%," the lawsuit says.
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