Wall Street widely expected shareholders to approve the sale after they forced Spirit to drop a proposed merger with Frontier Airlines in favor of JetBlue’s richer, all-cash offer.
“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 US carriers,” Spirit CEO Ted Christie said after the vote.
However it would also eliminate Spirit, the nation’s biggest budget carrier, and that might not sit well with regulators, who appear to oppose any further consolidation in the airline industry after a round of mergers between 2005 and 2016. in New York and Boston between JetBlue and American, which the airlines call the Northeast alliance or NEA. Department lawyers say the alliance is anti-competitive and will drive up prices for consumers.
The Justice Department is currently fighting to kill a partnership in New York and Boston between JetBlue and American, which the airlines call the Northeast alliance.“If win the case, and the judge thinks the NEA does not harm consumers enough, it’s almost guaranteed that there will be an antitrust challenge to the Spirit acquisition,” Ederer said.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Wall Street Reacts Positively to Victoria’s Secret After Investor DayStill, analysts say the company’s turnaround efforts might be undervalued on the Street.
Weiterlesen »
Wall Street jumps as BofA results spark rallyWall Street's main indexes jumped on Monday as Bank of America led a rally among lenders after reporting a smaller-than-expected drop in profit, with its new loans benefiting from higher borrowing costs.
Weiterlesen »
Wall Street surges as market seeks bottoming signsWall Street's main stock indexes rallied as much as 3% on Monday, catalyzed by better-than-expected Bank of America earnings, while traders debated whether recent wild swings signaled some sort of bottom was forming after new-bear market lows were reached last week.
Weiterlesen »
Wall Street ends sharply higher, dollar dips on UK U-turn, strong earningsU.S. stocks kicked off the trading week with a rally after Britain reversed course on an economic plan, while Bank of America was the latest financial company to post solid quarterly results
Weiterlesen »
Stocks rally on Wall Street in latest volatile moveWall Street kicked off a busy week of corporate earnings with a broad rally Monday, the latest about-face for a market that has been unsteadily lurching between gains and losses in recent weeks. The S&P 500 climbed 2.6%, more than recovering the ground it lost in a sell-off Friday.
Weiterlesen »
Wall Street rally throws spotlight on reports from Tesla, NetflixInvestors are speculating about whether Monday's big stock surge is the start of a recovery or another pause in the market's decline, and the answer may depend in part on upcoming quarterly results from heavyweights including Tesla Inc , Johnson & Johnson and Netflix Inc .
Weiterlesen »