Saturday, September 13, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Sen. Warren urges Dept. of Transportation to block JetBlue’s purchase of Spirit

by Euro Times
September 17, 2022
in Business
Reading Time: 2 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


JillianCain/iStock Editorial via Getty Images

Update 11:45pm: Adds JetBlue comment. Sen. Elizabeth Warren (D-MA) is requesting that the U.S. Department of Justice heavily scrutinize JetBlue’s (NASDAQ:JBLU) planned purchase of Spirit Airlines (NYSE:SAVE) and ultimately block the combination.

Warren wrote a letter to Transportation Dept. Secretary Pete Buttigieg asking that the agency to consider blocking the $3.8 billion purchase of Spirit (SAVE). Although the Justice Department is the agency that is reviewing the deal, Warren argues that the DOT also can move to stop the deal.

The “DOT must make its own independent competition assessments and take its own actions accordingly without deferring to DOJ,” Warren wrote in the letter dated Thursday.

Warren argued that a combination of JetBlue (JBLU) and Spirit (SAVE), a low cost carrier, would likely lead to higher fares for passengers.

The “DOT has the statutory authority to block mergers that it determines are inconsistent with the public interest at the agency level without having to go to court—a significant advantage over DOJ—and you have an enormous opportunity to protect consumers nationwide by using this authority aggressively,” Warren wrote in the letter.

JetBlue (JBLU) responded to Warren’s letter in a statement emailed to Seeking Alpha.

“Our proposed combination with Spirit addresses Senator Warren’s longstanding concern about the lack of competition in the U.S. airline industry by bringing JetBlue’s disruptive combination of low fares and great service to more people in more places. With just 5% of the market,” JetBlue said in the statement.

The airline also addressed Warren’s request for the Dept. of Transportation to review the deal.

“We are disappointed that Senator Warren would suggest circumventing a well-established process that would ensure a full and in-depth review of our proposal, andcwe look forward to continued engagement with both the U.S. Department of Justice and the U.S. Department of Transportation on the significant benefits this combination will provide to the travelling public,” JetBlue added.

Warren’s letter comes after the Democrat along with Bernie Sanders (I-VT) and Rep. Alexandria Ocasio-Cortez (D-NY) in March requested that the Dept. of Justice investigate the original proposed Frontier (NASDAQ:ULCC) purchase of Spirit (SAVE), which was later terminated after JetBlue won a bidding war for Spirit.

The push from Warren also comes as Jetblue (JBLU) and American Airlines (AAL) are set to battle Sept. 26 in a hearing with the U.S. Dept. of Justice over an alliance the airlines announced in July 2020 over code sharing. The government is asking for the court to order the airlines to end their Northeast Alliance partnership in an action aimed at improving competition in the Northeast part of the U.S.

On Monday Spirit (SAVE) set its holder vote for its sale to JetBlue for Oct. 19



Source link

Tags: BlockDeptJetBluesPurchaseSenspirittransportationUrgesWarren
Previous Post

Current Account Deficit likely to remain within 3% of GDP in 2022-23 on higher commodity prices globally, says RBI article

Next Post

Venezuelan migrants risk their lives for a better future — Global Issues

Related Posts

India’s sports economy at inflexion point; could 2036 be the Olympian catalyst?

India’s sports economy at inflexion point; could 2036 be the Olympian catalyst?

by Euro Times
September 13, 2025
0

Achanta Sharath Kamal (Olympian, Vice Chairperson, Athletes Fee, IOA), Hari Ranjan Rao IAS (Secretary, Sports activities, Authorities of India), Devendra...

China proposes rule changes to ease gold imports and exports

China proposes rule changes to ease gold imports and exports

by Euro Times
September 13, 2025
0

China sought to ease licensing guidelines for gold imports and exports, because the world’s largest shopper of the valuable metallic...

IPO Weekly Recap: Klarna Leads Busiest Week For IPOs Since 2021; More Names Join Pipeline

IPO Weekly Recap: Klarna Leads Busiest Week For IPOs Since 2021; More Names Join Pipeline

by Renaissance Capital IPO Research
September 13, 2025
0

This text was written byObserveRenaissance Capital gives pre-IPO analysis to institutional traders and funding banks. The Agency manages two IPO-focused...

WrestleMania 43 To Be Held In Saudi Arabia, First Time Outside North America

WrestleMania 43 To Be Held In Saudi Arabia, First Time Outside North America

by Hemarghya Bal
September 12, 2025
0

Even a decade in the past, it was unthinkable. Slowly, however certainly, the unbelievable appeared inevitable as WWE's partnership with...

UN backs two-state declaration condemning Hamas and Israeli strikes; India votes in favour

UN backs two-state declaration condemning Hamas and Israeli strikes; India votes in favour

by zee business
September 13, 2025
0

The United Nations Common Meeting on Friday overwhelmingly adopted the "New York Declaration," a decision calling for tangible steps in...

UN backs two-state declaration condemning Hamas and Israeli strikes; India votes in favour

UN backs two-state declaration condemning Hamas and Israeli strikes; India votes in favour

by zee business
September 13, 2025
0

The United Nations Common Meeting on Friday overwhelmingly adopted the "New York Declaration," a decision calling for tangible steps in...

Next Post
Venezuelan migrants risk their lives for a better future — Global Issues

Venezuelan migrants risk their lives for a better future — Global Issues

Policy amended, international trade can now be settled in Rupee

Policy amended, international trade can now be settled in Rupee

Charlie Kirk shooter Tyler Robinson lived with a transgender partner, claims report

Charlie Kirk shooter Tyler Robinson lived with a transgender partner, claims report

September 13, 2025
India’s sports economy at inflexion point; could 2036 be the Olympian catalyst?

India’s sports economy at inflexion point; could 2036 be the Olympian catalyst?

September 13, 2025
Regions Stock: Adding The High-Yielding Preferred Stock To My Portfolio (NYSE:RF)

Regions Stock: Adding The High-Yielding Preferred Stock To My Portfolio (NYSE:RF)

September 13, 2025
Lamborghini Revuelto Totaled in Indonesia Following High-Speed Crash

Lamborghini Revuelto Totaled in Indonesia Following High-Speed Crash

September 13, 2025
PSU banks ready to play a larger role towards Viksit Bharat 2047: DFS Secretary

PSU banks ready to play a larger role towards Viksit Bharat 2047: DFS Secretary

September 13, 2025
China proposes rule changes to ease gold imports and exports

China proposes rule changes to ease gold imports and exports

September 13, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Charlie Kirk shooter Tyler Robinson lived with a transgender partner, claims report

India’s sports economy at inflexion point; could 2036 be the Olympian catalyst?

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In