JetBlue and Spirit Airlines stated Friday they’ll attraction a federal judge’s ruling this week that blocked their plan to mix right into a single provider.
The airways stated they filed a discover of attraction with the first U.S. Circuit Court docket of Appeals, following the phrases of their settlement.
The Justice Division, which sued to dam JetBlue’s proposed $3.8 billion buy of Spirit, declined to remark.
JetBlue and Spirit are the nation’s sixth- and seventh-largest carriers. JetBlue, which outbid Frontier Airways, stated it wanted to amass Spirit to compete extra successfully towards even larger airways.
However on Tuesday, a federal choose in Boston dominated that the deal violated antitrust regulation. The U.S. Justice Division had sued to cease the deal, arguing that buyers could be harmed and compelled to pay greater fares if Spirit — the nation’s greatest low cost airline — have been eradicated.
The airways introduced their attraction in a press release that supplied no different particulars.
Earlier Friday, Spirit stated {that a} sturdy holiday-travel season in December boosted its fourth-quarter revenue. The Miramar, Florida-based airline additionally stated that it’s making an attempt to refinance $1.1 billion in debt that’s due for cost in September 2025.
Spirit additionally stated that negotiations with Pratt & Whitney over engines that have to be reworked — ensuing within the grounding of a median of 26 planes a day all through 2024 — “have progressed considerably since October.” The airline stated it expects compensation that may present “a significant source of liquidity over the next couple of years.”
Spirit has been shedding cash for the reason that begin of 2020. Some analysts stated it could face bankruptcy with out the merger with JetBlue.
The airways introduced their intention to attraction U.S. District Choose William Younger’s ruling after the inventory market closed on Friday.
Shares of Spirit, which fell 62% over three days following the ruling, gained 17% in common buying and selling Friday, and rose one other 13% in after-hours buying and selling. JetBlue’s shares fell 2% in prolonged buying and selling.
