JetBlue Continues Merger Course of With Spirit

JetBlue Airways is continuing with its merger with spirit regardless of a Division of Justice injunction.

JetBlue introduced this week it’ll proceed with its prepayments to Spirit Airways as a part of the merger course of.

The airline introduced a deliberate merger with Spirit final yr for $3.1 billion, however the Division of Justice sued earlier this month to cease the merger.

In response to the corporate, it “has set March 27, 2023, because the document date for the March 2023 prepayment to Spirit stockholders of $0.10 per Spirit share (the “March 2023 Extra Prepayment”), with fee of the March 2023 Extra Prepayment to happen on March 31, 2023. Pursuant to the Merger Settlement, Spirit stockholders as of the March 27, 2023, document date will likely be entitled to obtain the March 2023 Extra Prepayment.”

JetBlue can be in a authorized battle over its alliance with American Airways.

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