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The New York Times — Business — Aviation — Mergers & Acquisitions — Air Travel — Cryptocurrency

A Mega Airline Merger Hits Turbulence

The Justice Department plans to sue to block JetBlue’s deal to buy Spirit Airways, creating the fifth-largest airline in the U.S. Grayscale Investments is suing the S.E.C. for the right to transform its Bitcoin Trust into an ETF.

1 min read
  • The Justice Department plans to sue to block JetBlue’s deal to buy the low-cost airline Spirit Airways for $3.8 billion.
  • The deal would create the fifth-largest airline in the U.S., and would double JetBlue’s market share to 10 percent.
  • JetBlue plans to remake the famously no-frills, low-cost Spirit flying experience by removing seats, increasing legroom and shaking up the economics of each flight.
  • Regulators believe that the loss of an independent Spirit would be a big market disruption.
  • Grayscale Investments is suing the S.E.C. for the right to transform its Bitcoin Trust into an exchange traded fund.
A Mega Airline Merger Hits Turbulence
Regulators looking to block JetBlue’s $3.8 billion bid to buy Spirit Airways think there’s no other way to address their competition concerns.
The New York TimesBy Andrew Ross Sorki

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