Why Spirit Airlines Stock Is Losing Altitude Today
The merger partner of Spirit Airlines (NYSE: SAVE) is casting doubt on whether their deal will close, a development that would raise questions about Spirit's ability to continue to operate. Investors are heading for the emergency exits as a result, with shares down 10.4% as of 3:30 p.m. ET on Friday.
It has been a turbulent few weeks for Spirit Airlines. The company's planned merger with JetBlue Airways (NASDAQ: JBLU) was thrown into doubt after a federal judge sided with antitrust regulators seeking to block the deal. The airlines vowed to fight on, saying they would appeal the decision.
But the outcome of that appeal is very much in doubt. On Friday, JetBlue disclosed in a regulatory filing that it has informed Spirit that "certain closing conditions" required to complete the takeover "may not be satisfied" before the deadline the two sides agreed to when the deal was signed.
Source Fool.com
Jetblue Airways Corp. Aktie
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