Business
Spirit Airlines shares plunge after judge blocks JetBlue merger
New York (CNN) — Spirit Airlines shares tanked 53% on Tuesday after a federal judge in Boston ruled against JetBlue’s acquisition of the company.
Posted — UpdatedBy Krystal Hur, CNN
CNN — New York (CNN) — Spirit Airlines shares tanked 53% on Tuesday after a federal judge in Boston ruled against JetBlue’s acquisition of the company.
“In light of the foregoing Findings of Fact and Conclusions of Law, it is hereby ordered that the Defendant Airlines, their agents, servants, employees, and all persons acting in concert with either of them, are permanently enjoined from executing the proposed merger as agreed on July 28, 2022,” wrote Judge William Young on Tuesday.
This story is developing and will be updated.
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