US4771431016 - Common Stock
Spirit Airlines Inc. has filed bankruptcy in the wake of greater competition from rival carriers and financial troubles following its scuttled merger with JetBlue Airways Corp.
The potential bankruptcy of a rival lifted shares on the prospects of less competition.
Spirit Airlines is taking aggressive steps to avoid bankruptcy, but the best-case outcome still isn't likely to result in a huge payday.
A partnership between American Airlines Group Inc. and JetBlue Airways Corp. violated US antitrust law, an appeals court ruled, affirming a lower court decision to end the alliance.
Spirit Airlines is working from a position of weakness, and the risk is very high for investors that put money into the stock.
JBLU earnings call for the period ending September 30, 2024.
The third quarter was strong, but the outlook disappointed.
Leading earnings movers Tuesday include JetBlue Airways and Opera.
That suggests that there will be a Spirit in the sky for a while longer.