JetBlue Airways has admitted it may be forced to abandon its bid to acquire Spirit Airlines due to a federal judge’s decision blocking the deal over competition concerns.
In a filing to the U.S. Securities and Exchange Commission, JetBlue stated that certain conditions required by the merger agreement may not be met within the specified timeline.
JetBlue informed Spirit that the merger agreement could be terminated on or after January 28, 2024, and is currently evaluating its options.
Spirit Airlines responded by stating that it believes there is no basis for terminating the merger agreement and expects JetBlue to fulfill its obligations under the agreement.
