JetBlue and Spirit Airlines mentioned Friday they’ll attraction a federal judge’s ruling this week that blocked their plan to mix right into a single provider.
The airways mentioned they filed a discover of attraction with the first U.S. Circuit Courtroom 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, mentioned it wanted to amass Spirit to compete extra successfully in opposition to even greater airways.
However on Tuesday, a federal choose in Boston dominated that the deal violated antitrust legislation. The U.S. Justice Division had sued to cease the deal, arguing that buyers could be harmed and compelled to pay larger fares if Spirit — the nation’s greatest low cost airline — have been eradicated.
The airways introduced their attraction in an announcement that offered no different particulars.
Earlier Friday, Spirit mentioned {that a} sturdy holiday-travel season in December boosted its fourth-quarter revenue. The Miramar, Florida-based airline additionally mentioned that it’s making an attempt to refinance $1.1 billion in debt that’s due for fee in September 2025.
Spirit additionally mentioned that negotiations with Pratt & Whitney over engines that must be reworked — ensuing within the grounding of a median of 26 planes a day all through 2024 — “have progressed significantly since October.” The airline mentioned it expects compensation that may present “a big supply of liquidity over the subsequent couple of years.”
Spirit has been shedding cash for the reason that begin of 2020. Some analysts mentioned it could face bankruptcy with out the merger with JetBlue.
The airways introduced their intention to attraction U.S. District Decide 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.